Duty-free retailer Dufry sees revenue spike in 2022 due to strong demand According to Reuters

© Reuters. FILE PHOTO: A Dufry group duty free shop in the departure lounge at Denpassar International Airport in Bali March 23, 2017. REUTERS / Thomas White

By Tristan Chabba

(Reuters) – Duty-free retailer Dufry on Wednesday said it expected strong 2022 revenue as third-quarter sales rose nearly 57%, boosted by leisure travel. mind during the summer months.

The company, which operates in more than 60 countries with about 2,200 stores globally, forecasts full-year sales of 6.6 billion to 6.7 billion Swiss francs ($6.6 billion to $6.7 billion). compared with the 3.92 billion Swiss francs the company reports in 2021.

Dufry, which operates shops at airports, on cruise ships, in ports and other tourist destinations worldwide, has benefited from a strong recovery in global travel, particularly especially in Europe and the United States, after restrictions imposed in response to the pandemic were lifted.

Dufry said on a conference call that it saw a stronger-than-expected performance in October.

The company said business travel has increased in the United States, where it has accelerated the rollout of self-check-out to help with sales and support hiring demand ahead of a rebound in passenger traffic.

However, the Basel-based company considers it “unrealistic” to return to 2019 sales levels by 2023, arguing that the upcoming year will be a challenging year for macro hurdles and political geography.

The group reported revenue of 2.12 billion Swiss francs in the third quarter, up 56.7% in reported growth from a year earlier but 15% below pre-pandemic levels last year. 2019.

(1 dollar = 0.9990 Swiss francs)

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