Financial News

Dufry, the Swiss travel-retail giant, held its Ordinary General Meeting (OGM) this week where it re-elected members of its board of directors. The Board of Directors’ proposals to re-elect Juan Carlos Torres Carretero as member and Chairman of the Board of ...

L’Oréal has said it is looking to go global with Korean make-up and fashion company Stylenanda after acquiring 100% of the company. Most famous for the make-up brand 3CE, which accounts for 70% of its business, Stylenanda’s distribution model includes ...

A positive retail performance contributed to Groupe Aeroports de Paris (ADP) posting consolidated revenue growth of 37.3% for the first quarter of 2018. Retail revenue for the airport operator saw positive growth of 3.4% in the three-month period, increasing from ...

The Estée Lauder Companies has reported strong financial results for the third quarter, ended 31 March 2018, with net sales increasing 18% to $3.37bn. Excluding the impact of foreign currency translation, net sales increased 13%. President and Chief Executive Officer ...

Jordanian Duty Free Shops has reported a 21.9% increase in sales for the first quarter of 2018. The operator of 16 land and sea border stores in the kingdom saw total sales of JD26.38m ($37.18m) of sales in January, February ...

Bacardi Limited has announced today the completion of its acquisition of Patrón Spirits International and its super-premium tequila brand Patrón. The transaction, which was announced in January, makes the family-owned company the sole owner of Patrón Spirits. It further builds on ...

Higher retail spending has helped London’s Heathrow airport post strong revenue for the first quarter of 2018. The airport’s revenue over the first three months of the year was £680m ($934.89m), a 3.8% increase on the £655m seen for the ...

Duty Free International (DFI), Malaysia’s largest duty-free retailing group, has reported a sharp fall in profits in its 2018 full year results (the 12 months to the end of February 2018) against a backdrop of net foreign exchange losses. Total ...

Aer Rianta International (ARI) has reported an 8% increase in profits for 2017 from its non-Irish international business over the previous year. The Dublin-headquartered airport retailer said that the achievement of its after tax profit total of €24m ($29.24m) was underpinned ...

Gebr Heinemann has reported 2017 was a year of “healthy” development. Announcing the retailer’s annual financial results, which saw its turnover increase 6.6% to €4.1bn ($5.06bn), Gebr Heinemann co-owner Claus Heinemann said: “2017 was a respectable year for us with ...

Dubai Duty Free has reported first quarter sales for 2018 of $523.4m, representing an 11% increase over the same period last year. Various refurbishment programmes at Dubai’s main airports – Dubai International airport and Al Maktoum International airport – have ...

WHSmith’s travel arm delivered a strong performance in the six months to the end of February, with its trading profit up 5% to £41m, including £4m from its growing international business. Total revenue from travel was up 7% on the ...

The French multi-national luxury products group LVMH Moët Hennessy Louis Vuitton recorded revenue of €10.85bn ($13.37bn) in the first quarter of 2018, a reported increase of 10%. Organic growth was 13% compared to the same period in 2017 and it was ...

Chinese-owned gategroup, the world’s largest provider of airline catering services in terms of revenue, has announced that it will not pursue its intended initial public offering (IPO) on the SIX Swiss Exchange. The withdrawal from the planned listing has come ...

DFNI was on the scene in Orlando at the first Summit of the Americas jointly held by ASUTIL and IAADFS. Our reporter on the ground, Liam Coleman, met with the leading figures in the American duty-free industry and gave all ...