Pandora braces for recession despite resilient demand

The world's largest jewellery maker by production capacity said sales in the US, its biggest market, dipped by 3%.

Pandora reported third-quarter sales of €713m, slightly above an average of €694m expected by analysts in a poll by the company. Photo credit: REUTERS/Andrew Kelly

Danish jewellery maker Pandora reported third-quarter sales just above expectations and said it is braced for recession even though shopper demand has proven resilient in the face of soaring living costs.

"Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers are so far largely unchanged," chief executive Alexander Lacik said in a statement.