Commercial Sales Results
Auckland Airport sees duty-free retail improve in H1 as tender decision nears; luxury weakens
Income per passenger rose +1.9% to NZ10.16 (US$5.81) with the passenger spend rate (PSR) nudging ahead by +0.3% year-on-year. However, international PSR was down -1.5%.
Double-digit leap in duty-free and food & beverage revenue buoys TAV Airports in 2024
TAV Airports today reported a +27% year-on-year rise in revenue to €1.66 billion in 2024, outpacing an +11% rise in passenger traffic.
Bahrain Duty Free reports +17% growth in 2024 net profit despite Q4 decline
For the full year ended 31 December, the retailer’s net profit reached BD5.015 million (US$13.3 million).
Passenger traffic growth outstrips commercial revenue rise at Thai airports
Airports of Thailand reports a +2.7% rise in non-aeronautical revenues for the three months ended 31 December 2024, but this lags behind a +16.4% leap in passenger traffic. UPDATED.
Lagardère Travel Retail delivers double-digit sales growth and improved profits in 2024
Lagardère Travel Retail posted €5,812 million in revenue in 2024, up +15.8% year-on-year and +12.5% on a like-for-like basis, along with a sharp rise in profitability. UPDATED.
Travel retail and China headwinds weigh on Coty’s Q2 performance
Despite strong demand for prestige fragrances, Q2 net revenue declined due to continued weakness in the mass beauty market and ongoing challenges in APAC, notably in China and Asian travel retail.
Shinsegae Duty Free suffers heavy Q4 and full-year operating losses
These are tough times in the world’s biggest duty-free market with Shinsegae Duty Free’s fortunes mirroring those of its peers as heavy concession fee costs weigh on Q4 and full-year results.
Shiseido’s travel retail sales and operating profit plunge amid “challenging” North Asia markets
The Japanese beauty house Shiseido’s travel retail sales fell -23.8% in 2024 while core operating profit plunged -70.7% amid deeply challenging conditions in Hainan and South Korea.
“A tale of two cities” – L’Oréal outlines North Asia travel retail and China challenges
L’Oréal CFO Christophe Babule drew on a Dickensian allusion to describe the contrasting fortunes of North Asia and the rest of the world. While Dickens’ famous ‘It was the best of times, it was the worst of times’ opening line doesn’t quite apply, there is no doubt how sharply the region’s performance varied from its geographic counterparts. UPDATED.
L’Oréal posts ‘solid’ +5.1% sales growth in challenging market; acquires minority stake in Amouage
“We delivered solid, broad-based growth of +5.1%, once again outperforming the global beauty market. Excluding North Asia, where the Chinese ecosystem remained challenging, sales advanced in high single digits,” says CEO Nicolas Hieronimus.
Pernod Ricard H1 impacted by macroeconomic headwinds; travel retail hit by China’s Cognac crisis
Leading drinks group Pernod Ricard today reported sales of €6,176 million for the first half of its financial year, with sales down -6% year-on-year on a reported basis.
‘Favourable duty-free policies’ and promotions see Hainan Lunar New Year sales reach US$290 million
Hainan duty-free retailers welcomed 240,500 shoppers during the eight-day Spring Festival period. Visitors enjoyed dynamic promotional campaigns and government incentives designed to encourage spending.
