Duty Free Philippines to close Cebu hotel store

Nicole Mezzasalma

Print Article E-Mail Article E-Mail Author

The closure of the Waterfront store follows the opening of a new outlet at the SM City shopping centre

Duty Free Philippines (DFP) has announced plans to close its store at the Waterfront Cebu City Hotel and Casino by the end of August following the opening of its new 1,800sq m (19,375sq ft) outlet at the SM City Cebu shopping centre, according to reports in the Cebu Daily News.

DFP general manager Michael Kho said the new store can better serve the market, making the Waterfront shop obsolete.

According to DFP, the Waterfront outlet and its store at Cebu Mactan International airport earned $9m in 2007. The company expects sales to reach $26m with the new store, or 15% of its nationwide sales. DFP recorded total sales of $170m last year.