Pandora CEO warns that the intensifying K-shaped economic divergence in the US is leading middle- and low-income earners to cut spending, dragging down sales in North America.

汇通财经2026/05/06 10:59

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The jewelry brand Pandora stated that a decline in spending by middle- and low-income consumers led to a 2% drop in comparable sales in the North American market. The new CEO pointed out that high-income consumers remain in good condition, while middle- and low-income groups are being hit by high inflation, high interest rates, and high oil prices.
In an interview, the company’s CEO said that the K-shaped economy is actually intensifying: high-income consumers continue to maintain strong consumption, while middle- and low-income earners are being disproportionately affected by multiple cost pressures. The longer the war lasts, the greater the impact on consumer confidence.
Pandora has been troubled by weak U.S. consumer confidence, high import tariffs, and surging silver prices eroding profits since the outbreak of the Iran war more than two months ago. The jump in fuel prices has further suppressed the purchasing power of middle- and low-income shoppers.
Although sales declined by 2% in both North America and the Europe, Middle East, and Africa region, strong growth in Latin America and the Asia-Pacific region partly offset the weakness in core markets. First-quarter revenue exceeded analyst expectations, pushing the company’s share price up by 11%.
Looking ahead, the focus will be on whether the trend of consumer polarization in the U.S. will further spread to other industries, and whether Pandora’s strategies—such as reducing silver exposure by switching to platinum plating and targeting marketing campaigns more precisely—can effectively hedge the pressure from slowing demand in core markets.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Pandora CEO warns that the intensifying K-shaped economic divergence in the US is leading middle- and low-income earners to cut spending, dragging down sales in North America.

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