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U.S. jewellery sales continue at strong pace even after halt to stimulus

by Mike Robinson

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© Reuters. FILEPHOTO: On August 7, 2018, the Pandora logo was seen in a jewelry shop in Rome. REUTERS/Max Rossi

COPENHAGEN (Reuters – The pace of jewellery sales in the United States has continued at a steady pace even though September’s stimulus checks were stopped, Pandora’s chief executive said Wednesday.

By production capacity it is the largest jewel maker in America, sales grew 59% during the third quarter of 2019 compared to 2019.

Alexander Lacik CEO stated, “It is no secret that it’s very much propelled through the stimulus check.”

“We expected sales to slow down when the September stimulus checks were stopped. “So far we haven’t seen that cooling down,” he stated, noting that credit card data indicates that Pandora is gaining market share in the United States.

His prediction is that the rate of growth will continue to increase, but it’s still uncertain when.

Lacik stated, “So far it seems very strong.”

After Pandora Store sales fell short of expectations during the third quarter, shares in the company fell Monday. They traded 3.3% more at 0830 GMT Wednesday.

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