Slow attendance dents Olympic merchandise sales

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Merchandiser Concept Sports could lose up to $19m in its Athens venture with Hellenic Duty Free Shops and The Nuance Group

Melbourne-based merchandiser Concept Sports has reported poor earnings from its Athens Olympics franchise, conducted jointly with Hellenic Duty Free Shops and The Nuance Group. The company told analysts that slow ticket sales at the event had dented sales, with preliminary results - presuming a strong attendance at the Paralympics starting on September 17 - showing sales of between $47.3m and $52.5m against forecasts of $66.5m.

The company also noted poor sales from two other international ventures, the Euro 2004 football finals and on the Grand Prix racing circuit. Acording to Australian publication The Age, the company still plans to tender for merchandising contracts at the Beijing Olympics in 2008.