March 25, 2011

Dufry plots 10,000sq m of new travel retail store space as global expansion continues

[The Moodie Report]  

Dufry is planning to open around 10,000sq m of new store space in 2011 amid the continuing expansion of the business. That’s according to CEO Julián Díaz, speaking to analysts and media after yesterday’s annual results announcement.

As reported, Dufry revealed a +9.7% rise in turnover to CHF2,610.2 million (US$2,867 million) in 2010 (up +15.0% based on constant rates), while EBITDA grew by +19.2% (at constant exchange rates).

Díaz said: “We have signed contracts to open a further 10,000sq m of space in 2011. In Europe this will be in Italy’s rail network and we also won a tender in Martinique (in the French West Indies). In Africa we have won a tender in Rabat, and in Eurasia we will open new stores in Russia, Serbia and Cambodia. In Central America the development will include new openings in Aruba, St. Kitt’s, Dominican Republic and Jamaica, and in Brazil in South America.

“In North America we won a significant tender for 20 stores at Los Angeles Airport, with other openings due in Chicago, Boston and many other locations, both in the US and Canada. And in the pipeline over the next 12-18 months we have a further 45,000sq m under negotiation across all of our regions.”


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