Increased value this year gives Pandora investors a reason to smile
Pandora showed investors that they had something to smile about in 2013. At the start of the year, stocks of the Danish jewelry designer, manufacturer and distributor went up by 76%. The most recent closing price of the shares at DKK 219 per share was 3.4% higher than its original initial public offering price of DKK 210 per share three years ago.
The jeweler's sales also increased in the first half of this year by as much as 47%. Pandora also estimated that its forecast for the year would reach DKK 8 billion.
It had been a bumpy ride for Pandora since its IPO in 2010. On its first day of trading, Pandora stocks rose 25% but lost over four-fifths of its value within the year.
Pandora's Chief Executive Officer Allan Leighton said giving constantly new designs, lower prices and opening new stores had charmed investors and customers to the jewelry brand once more. In a telephone interview with Bloomberg, Leighton said, "Freshness is very important, that's a lesson we've learned. People like newness."