Danish jewelry company, Pandora, continues its comeback that began to show promise earlier this year with a year-over-year 53 percent increase in revenue to 1.9 billion kroner ($343 million) for the second quarter of 2013. Net income rose 22 percent for the period to 431 million kroner ($76.5 million). 

The company did note that comparable figures for the second quarter of 2012 were impacted by the companys stock balancing campaign conducted in the first two quarters of 2012, where it replaced unwanted products after demand collapsed in 2011. In August of the same year the company issued a second-quarter report that changed its outlook from expecting a revenue growth of no less than 30 percent for 2011 and an EBITDA margin of minimum 40 percent with flat revenue and EBITDA margins in the low 30s for the year. This report resulted in the immediate resignation of its CEO, Mikkel Vendelin Olesen, and a one-day 65 percent drop in the value of its stock. 

Up until then the fast-growing brand that issued a $2.1 billion IPO in October 2010 was the darling of the investment community, retailers and consumers. The second quarter of 2013 marks the companys fourth consecutive quarter of growth. 

Gross profit for the quarter increased 49 percent to 1.27 billion Danish kroner ($225 million). This corresponds to a gross margin of 66 percent, compared to 67.9 percent in the second quarter of 2012 and 65.6 percent in the first quarter of 2013. The company said the decrease in gross margin was primarily due to the expiration of the suspension of import duties on goods from Thailand (where the company manufactures its jewelry) into the U.S. The increase in the gross margin compared to Q1 2013, was due to a decrease in commodity prices, the company said. 

EBITDA for the second quarter increased by 140.9 percent to 530 million Danish kroner ($94.1 million) resulting in an EBITDA margin of 27.4 percent, compared to 17.5 percent in the same period of the prior year.Pandorawhich designs, manufacturers, markets and sells its jewelry wholesale and retailsaid its volumes increased by 40 percent year-over-year and the average sales price increased nearly 9 percent. 

On 30 July 2013, Pandora is sticking to an upgrade in its financial guidance, first announced July 30, to 8 billion kroner ($1.42 billion),This carbon fiber and stainless steel jewelry supplies works for both a fashion. compared with its previous guidance of 7.2 billion kroner and expects an EBITDA margin of approximately 27 percent, up two points from its previous guidance.The company also plans to increase the number of its popular concept stores that it plans to open for the year, from 150 to 175. 

The solid performance reported for Q1 2013 has continued across all major markets in the second quarter, with strong sales from newly launched products, high replenishment rates and healthy sell-out from the concept stores, said Allan Leighton, Pandora CEO. Our strategy of delivering affordable luxury is becoming increasingly relevant, and although there are still many areas in which we can improve we are pleased with our progress. 

Advanced monthly sales estimates for department stores in July continued to show weaker consumer spending by contracting 3.9 percent year on year to $13.083 billion. 

The National Retail Federation (NRF) observed that sales gains for retailers were mixed in July, but driven primarily by back-to-school sales for clothing and sporting goods. July's retail sales,This handsome link tungsten bracelet for men is constructed in maintenance-free tungsten. excluding automobiles, gas stations and restaurants, rose 5 percent unadjusted year-over-year. 

Consumers continue to grind forward in July,We deal with various stainless steel jewelry and stainless steel rings. marking 13 consecutive months of retail sales gains, said NRF's president Matthew Shay. However consumers alone cant be expected to shoulder the burden of the economy. Fiscal and monetary policy uncertainties combined with stagnant economic and employment conditions continue to breed a volatile market with extreme swings in consumer spending. The economy cant seem to maintain any amount of momentum. We just cant seem to pull ourselves up. 

NRF's chief economist, Jack Kleinhenz, added, Spending has stalled and the economy is stuck in neutral. Even with modest employment gains and steady consumer confidence, Americans remain in a cautiously-positive spending pattern. While clothing and sporting goods retailers saw modest gains with early back-to-school shopping, home-based retailers saw marked decreases, possibly indicating the end of the year-long housing boom. This months retail sales report will make any decision on tapering that much harder for policymakers in D.C.

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