Pandora to show what is in the box
CEO Anders Colding Friis promises greater disclosure and complains weak share price does not reflect Pandora’s ‘strong business development’
Copenhagen — The CEO of Pandora, which has been under siege by hedge funds this year, says the market is ignoring the jewellery maker’s growth potential. And to make sure investors get the message in future, management is looking into whether it can improve its communications. "The developments in the share price have taken a lot of focus this year," CEO Anders Colding Friis told Bloomberg in an e-mail. "Unfortunately, it seems the share price development has overshadowed the fact that Pandora on a business level has had a strong development. "There are certain forces in the market that speculate against Pandora’s share," he said. "It doesn’t change anything for us as a company. We’ll continue to work hard and purposefully to create value for Pandora and the shareholders." Pandora lost almost a third of its value this year after hedge funds scaled up short bets based on speculation that the US retail market is in trouble. But analysts have largely stuck with their buy recommendation...
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