InterBaires records 63% rise in sales

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The retailer is benefiting from a surge in traffic and spend per head at Buenos Aires Ezeiza

Argentinian travel retailer InterBaires is forecasting sales of $71m this year, as the country's economy recovers, the Argentinian peso stabilises against the US dollar and traffic shows strong growth.

In the year to date sales are up 63% compared to the same period in 2003. InterBaires CEO Enrique Urioste told DFNI: ?Sales have been tremendous in the first six months. We are looking at an increase on the same period last year of 63%. At the start of the year we set a very ambitious budget of $71m for the full year and we are on line to hit that figure.?

He said the company could look forward to sales of $100m in 2005 if the recovery is sustained. ?The medium term is much harder to predict but there is no reason that we shouldn't be looking at revenues of in excess of $100m if the regional and international situation stays calm. It is more difficult to say when we can get to the $128m in sales that we hit in 1998 but if we work hard and do the right things it should be possible in the longer term.?

Aside from the strongest categories of fragrances and cosmetics, Urioste singled out the performance of high-end fashion accessories, electronics and Argentinian wines in the year to date.

Spend per head has also risen. Urioste said: ?We have seen quite an improvement since the start of the year on most of the ratios. Argentinian passengers were spending $11.55 at the start of the year and this is now up to over $14. Other nationalities started with an average spend of just over $8 and now it is over $11.?

Next month the operator is to open a new shop dedicated to local wines and has plans to open another destination merchandise store later in the year, both at Buenos Aires Ezeiza airport. In addition, InterBaires is seeking approval to expand its main arrivals store at the same location.

Full details of these developments can be read in DFNI September 1.