Pandora A/S: Initiation of Coverage- Will E-Commerce Overhaul & Operational Wins Fuel the Next Growth Chapter?

Pandora A/S, a renowned name in the global jewelry market, delivered a robust financial performance during the first quarter of 2025, aligning well with its strategic objectives. The company reported a solid 6% like-for-like growth, translating into a 7% organic increase, attributed to the adherence to its Phoenix strategy and the mission to develop a comprehensive jewelry brand. Pandora’s ability to maintain growth amidst a volatile global economic environment is a testament to its strategic positioning and operational resilience.