Jewelry brand Pandora reported on the increase in the plan for fiscal year 2013 after its results for the first half of the year exceeded the expected figures, reports Rapaport.
Now, Pandora expects revenue of about $ 1.4 billion in 2013, which means an annual increase of 20%. This figure is 11% higher than the previous target.
According to Pandora's forecast, the profit margin before taxes, interest, depreciation and amortization (EBITDA) will be around 27% (compared to the previously expected 25%). The retailer also raised expectations for capital costs to $ 71 million from the previously projected $ 53 million, taking into account the additional expansion of production capacity in Thailand.
For the fiscal year, Pandora expects to open about 175 stores - almost 25 outlets more than originally planned.