(Bloomberg) — Trading in Pandora A/S shares gave the jewelry maker its highest valuation since May 2018, after it raised its guidance for the year citing a spike in online demand.
Copenhagen-based Pandora rose more than 10% after the market opened on Friday. Denmark’s index of benchmark shares was up about 0.9%.
Management opted to publish preliminary third-quarter results late on Thursday, after a “strong” performance improved its prospects for the year. It now expects 2020 Ebit margin to reach at least 17.5%, compared with 16% previously. That’s after online organic growth of 89% in the quarter.
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