Dufry 1H 2021: gradual recovery as sales hit 50 percent of 2019 levels in July

Dufry 1H 2021: gradual recovery as sales hit 50 percent of 2019 levels in July

THE WHAT? Dufry has reported a turnover of CHF1,187.2 million for the first half of 2021, 69.5 percent down on 2019 levels. The travel retail operator said that the resumption of travel in the US, Central America and parts of EMEA was driving a gradual recovery.

THE DETAILS As of June this year, some 1,600 stores were open, Dufry said, representing some 75 percent of sales capacity. Plans are in place to open up to 70 percent of the portfolio (85 percent of sales capacity) by the end of August.

THE WHY? Dufry said that it was seeing encouraging demand for travel retail in open locations. Julián Díaz, CEO of Dufry Group, commented, “The first half of 2021 was characterized by a slow start due to ongoing restrictions. However, with the progress on vaccination in many parts of the world and the implementation of supportive travel protocols, Dufry sees clear signs of recovery in the respective regions. We are certainly not, where we want to be yet, but the high demand for travel retail and the unique shopping experience offered by our operations give us confidence for the months to come. Net sales for July were already back at a level of -50.4 percent compared to 2019. Even more positive was the performance in the re-opened regions with the US reporting -23.9 percent, Central America and Caribbean excluding the cruise business -17.6 percent and the Mediterranean region, Eastern Europe and Middle East -32.3 percent, all compared to 2019.