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UPDATE 1-Pandora lifts full-year outlook on faster store reopening

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COPENHAGEN, May 3 (Reuters) - Jewellery maker Pandora on Monday lifted its full-year sales and profit guidance as it now expects a faster reopening of its stores.

The company said it expects organic growth in sales of above 12%, compared with its previous forecast of above 8%, and sees its margin on earnings before interest and tax (EBIT) at above 22%, compared with its previous forecast of above 21%.

The update is based on the assumption that 20%-25% of its 2,700 stores will be temporarily closed due to the coronavirus outbreak during the first half of the year and 5%-10% in the second half, it said.

It had previously expected 25% of its stores to be temporarily closed in the first half of 2021. Currently, one in five stores is closed, it said. (Reporting by Jacob Gronholt-Pedersen; Editing by Jan Harvey)

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