Pandora stock falls after fire at distribution center in Europe

The U.S.-listed shares of Pandora A/S dropped 2.6% in morning trading Monday, after the Denmark-based jewelry company said its European distribution center in Germany was affected by fire over the weekend. The company said the fire has been extinguished. Pandora said it was assessing any potential impact on revenue from the fire, but said the initial assessment is that its stores in Europe hold enough inventory to sustain sales until the distribution center is expected to be operational. “The [jewelry] inventory is intact, and we expect distribution will be back to normal in a few weeks,” the company said in a statement. “Online sales continue unaffected through external distribution partners.” The stock has lost 27.4% over the past three months, while the S&P 500 has declined 6.3%.

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