March 16, 2020 / 5:31 PM / in 13 days

Jeweler Pandora withdraws 2020 guidance, halts treasury share buy back

COPENHAGEN (Reuters) - Jeweler Pandora (PNDORA.CO) said on Monday it has withdrawn its financial guidance for 2020 and halted a planned buyback of treasury shares due to the impact of the coronavirus outbreak in key markets.

In China, like-for-like sales have fallen between 70% and 80% since late January, while sales in Italy have “now almost come to a complete halt,” Pandora said in a statement.

Reporting by Jacob Gronholt-Pedersen; Editing by David Clarke

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