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Dufry reports a “good start” to 2016, with first quarter turnover growth up 60% to US$1.7 billion, and the integration of World Duty Free proceeding according to plan. Earnings are still being negatively affected in some markets by currency devaluations, however. See details on pages 1 & 2.
The Estée Lauder Companies also reported sales increases for the third quarter and nine months of its fiscal year, with travel retail benefiting from new launches, airline passenger growth and expanded distribution. The company also announced a new initiative designed to drive sales and reduce costs, named Leading Beauty Forward, which we will report on further in the next issue. ELC earnings recap on page 5.
Dufry’s Hudson Group has released an infographic illustrating several travel trends that it is following this year. The trends – and how they could help travel retail sales – are on page 4.
The travel retail industry is still in shock over the sudden death of Alberto “Pancho” Motta last month, and the International Association of Airport Duty Free Stores is sharing some words in memory of its departed President. Page 3.
Paraguayan luxury retailer Monalisa set to open a 3,500 sq-meter luxury department store in the new Paseo La Galeria shopping center and office development in capital city Asuncion next week. Another Ciudad del Este-based department store, Sax, is also opening in the shopping center. The development, built by Guatemalan business groupBlue Tower, is an important step for the future development of luxury retail in Paraguay, Sax’ management tells TMI. John Gallagher reports. Page 2.