Pandora A/S Ord (PNDZF) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.834 Good morning everyone and welcome to the conference call for Pandora's Q2 2026 results. 00:00:04.834 -- 00:00:08.777 I'm Bilal Aziz from the Investor Relations team and I'm joined here by our CEO Berta 00:00:08.777 -- 00:00:12.820 De Pablos-Barbier, CFO Anders Boyer and the rest of the IR team. 00:00:12.820 -- 00:00:15.742 As usual there will be a Q&A session at the end of the call. 00:00:15.742 -- 00:00:19.725 If you could limit yourself to two questions that would be great. 00:00:19.725 -- 00:00:23.767 Please pay notice to disclaimer on slide two and then turn to slide three and I will 00:00:23.767 -- 00:00:25.957 hand over to Berta. 00:00:25.957 -- 00:00:31.581 Thank you Bilal and welcome everyone. I would like to start with a small reminder 00:00:31.581 -- 00:00:36.624 and providing some context that 2026 is a year of deliberate change for 00:00:36.624 -- 00:00:42.387 Pandora. We are rolling our new growth model with greater focus on distinctive 00:00:42.387 -- 00:00:48.441 design, cultural relevance and a stronger local execution. 00:00:48.441 -- 00:00:53.789 Now, in addition, we are also expanding our retail experience with some pilots, 00:00:53.789 -- 00:00:58.937 intending to inspire discovery and giving the consumers more reasons to buy. 00:00:58.937 -- 00:01:03.563 We will be scaling across markets as we see Proofpoint that is working. 00:01:03.563 -- 00:01:08.345 and, importantly, we are also improving the quality of growth, substantially reducing 00:01:08.345 -- 00:01:13.566 promotions and heavy discounting. And you can see this implemented particularly 00:01:13.566 -- 00:01:18.708 in our core markets. Now, all these actions, of course, are intended to strengthen brand 00:01:18.708 -- 00:01:23.810 desirability and relev...