THE WHAT? Dufry has reported its results for the third quarter of fiscal 2022. The travel retail operator said that sales soared 58.6 percent yoy in the three months to September 30, 2022, to CHF 2115.2 million, bringing the nine-month total to CHF5.037.6, up 98.8 percent on the same period last year.
THE DETAILS Duty-free accounted for 56.1 percent of net sales versus 43.9 percent duty-paid, reflecting the uptake in cross-border and international flights during the recent months. Per category, the main contributors continued to be perfumes & cosmetics with 29.3 percent, and food & confectionery with 21.7 percent, whilst also luxury saw an increase as compared to last year.
THE WHY? Xavier Rossinyol, CEO of Dufry Group, stated, “We continue to see strong demand during the third quarter 2022 at attractive margins. In particular, holiday destinations in the Mediterranean region, Southern Europe, Middle East, Central America and the Caribbean were driving our performance. The USA remained strong, with South American countries having traded upwards.