NEWS ROUND-UP ARI’s profit from overseas operations +17% in 2016
Last year, strong trading performances from Cyprus and India helped to fuel an increase in profit of +17% year-on-year across Aer Rianta International’s (ARI) overseas retail operations outside Ireland, its annual results show. ARI’s total share of after tax profits
from its operations and joint ventures outside Ireland increased by 11% to €24m ($26.9m). [The rise includes ARI’s share of profits from its 20% stake in Dusseldorf Airport, which according to ARI ‘grew at a slower rate’ than the group’s other international retail operations]. This was bolstered by ‘strong like-for-like sales growth and an improvement in gross margins’, says ARI. ARI’s retail joint venture in Cyprus,
operating as CTC-ARI at Larnaca and Paphos airports, posted improved sales driven by an increase in Russian passengers to the islands. Elsewhere, ARI’s venture at Delhi
International Airport posted sales of more than $146m, while revenue growth in
Canada and Barbados was supported by a successful first year of trading at New Zealand’s Auckland International Airport, and a good performance from the retailer’s Middle East operation despite continued geopolitical turbulence. Total retail, food and beverage sales
by concessionaires across ARI’s flagship bases at Dublin and Cork, including sales from The Loop, rose by 11% to total €302m ($339m) as a result of rising passenger volumes. Sales from ARI’s directly-operated
stores in Ireland increased by 10% in the same period.
Dufry and Hudson gain 7-year Las Vegas extension
confectionery, plus duty paid merchandise, including accessories, electronics, fashion and essentials. The retailer said: “Featured beauty
The Dufry-owned Hudson Group has won a seven-year duty free and duty paid contract extension at Las Vegas McCarran International Airport comprising 18,000sq ft, including a new 6,000sq ft duty free and duty paid combination outlet – Las Vegas Dufry Shopping – serving in Terminal One’s D-Gate. Dufry, in partnership with Hudson
Las Vegas JV and The Nuance Group (Las Vegas) says it will offer ‘a vast product and brand assortment across all main duty-free categories’, including perfume and cosmetics, wines and spirits and
brands range from Chanel, Clinique and Dior, to Estée Lauder, Lancôme and Urban Decay. The high-end liquor assortment will feature an extensive collection of American whiskies and bourbons, and luxury Scottish whiskies. “Hudson Group currently operates 32
stores throughout LAS, including three duty free shops under the Nuance banner in Terminal One and Terminal Three, totalling 11,800 sq ft.” Adding her comments, Rosemary A.
Vassiliadis, Director of the Clark County Department of Aviation said: “McCarran International Airport served 47.4 million passengers last year, making 2016 the second-busiest year in the airport’s 68-year history.”
ARI CEO Jack MacGowan said:
“Despite a number of external challenges we demonstrated great resilience in driving continued profit growth. This was underpinned by a clear focus on our strategic goals to improve profitability and expand our retail estate by winning and seamlessly implementing new contracts.”
Japanese travellers ‘could
offset S. Korea TR woes’ South Korea’s duty free and travel retail market could be afforded some respite from the impact of falling Chinese visitors as rising Japanese arrivals seek to fill the void, research from Counter Intelligence Retail (CiR) suggests. New data points to the Japanese helping
to absorb the ‘body blow’ inflicted on South Korean travel retail, which has taken a hit to its tax free revenues in recent months as the ongoing dispute between South Korea and China over the deployment of THAAD has limited Chinese tour groups visiting South Korea. The nationality represents the second
largest inbound market for South Korea, according to figures from CiR.
Many South Korean DF&TR operators have suffered serious sales declines since the end of last year.
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