Dufry turnover slid by 71.1% in 2020 to CHF2,561.1 million.
Dufry Groupâs sales capacity expects to reach 65% â around 60% of its shop footprint Ââ by the end of the first quarter, the global travel retailer announced today (9 March).
The Basel-headquartered company continues to open its retail units progressively after suffering âsingle-location productivity scenariosâ amid continued travel restrictions across the globe.
Of its circa 2,300 shops, approximately 1,300 were open (
representing roughly 60% of sales capacity) as of February.
Recently re-opened locations include in the US in Denver, Atlanta, Miami and Tampa; in the UK; Greece; Spain; Morocco; Chile; Colombia; and in Puerto Rico. Current retail pipeline opportunities stood at around 31,500sq m, correct as of the end of February.
Dufry closes challenging 2020 with foundations laid for strong recovery
Dufry will focus on growth opportunities including accelerating expansion in Asia, digitalisation or further channel diversification
Dufry concluded the challenging financial year 2020 with
turnover of CHF2.56bn (-71% yoy) and
organic growth declining 69.8% year-on-year.
Dufry’s performance in the year was impacted by the unprecedented level of disruption in its retail operations, driven by international travel restrictions implemented by governments worldwide and temporary operational shut-downs of airports, cruise lines and other channels.
However, the company stated it closed the year with
strong liquidity, full cash flow control, strategic initiatives to drive recovery and the encouraging re-initiation of travel as restrictions slowly eased from Q3. That growth has plateaued since Q4 due to renewed containment measures in some countries, mainly Europe. The retailer said spend per passenger conti
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Julián DÃaz, CEO, Dufry Group.
The partnership between Hainan Development Holdings (HDH) and Dufry Group has come to fruition after both opened their first shop at Haikouâs Mova Mall on Hainan island on 31 January.
Dufry last month signed a strategic cooperation agreement with HDH to develop opportunities in Hainan, including a new 38,920sq m downtown duty free shop at Mova Mall due to open in phases.
Opening on the eve of Chinaâs Spring Festival, the Global Duty Free (GDF) Plaza offers customers a choice of internationally renowned brands and local premium labels across all categories, such as perfume & cosmetics, food and confectionery, wine & spirits and sunglasses.