L’Oréal Q1 2020: e-commerce saves the day as sales down 4.8 percent
L’Oréal has reported its results for the first quarter of the current financial year. The French beauty giant saw sakes drop a modest 4.8 percent thanks to a last-minute uplift as business resumes in China as well as a strong performance from its e-commerce channel.
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Stay home and shop: Changi airport offers tax free shopping to non-fliers
Singapore’s Changi Airport is offering those self-isolating at home the chance to enjoy tax free prices without flying.
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Airport Authority Hong Kong announces HK$1 billion relief package
Airport Authority Hong Kong (AA) has announced a HK$1 billion relief package to help its partners as passenger numbers plummet in the wake of the coronavirus outbreak, according to a press release issued by the same.
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Lotte closes Gimpo airport store as traffic plummets
Lotte Duty Free has closed a store located in Gimpo International Airport, according to a report published by The Korea Herald, and reduced opening hours for stores in the city centre.
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Interparfums reports strong 2019 performance but revises outlook for 2020 as coronavirus bites
Interparfums has reported its results for the fourth quarter and year ended December 31, 2019. Net sales swelled 5.6 percent to US$713.5 million (+7.3 percent in comparable currency) and net income grew 12 percent to US$60.2 million.
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Purchases plunge as traffic tanks in travel retail channel
Transport authorities have started to offer rent relief to those hit by the significant drop in traffic caused by the coronavirus outbreak, according to a report published by Market Screener.
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L’Oréal, Unilever et usher in travel bans as coronavirus takes hold
Several companies have ushered in restrictions or even bans on business travel in a bid to limit the spread of coronavirus, according to a report published by CNN.
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Lotte Duty Free is poised to open a flagship store in Sydney’s Central Business District, according to a report published by Shopping Centre News.
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Dramatic drop in Chinese tourists hits Parisian retailers hard
Luxury retailers in Paris are suffering from reduced footfall as many Chinese tourists have had their travel restricted in the wake of the coronavirus outbreak, according to a report published by Reuters.
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Coronavirus affects South Korean travel retail as cosmetic share prices fall
The recent outbreak of the Coronavirus has begun to affect sales in South Korean travel retail, hitting cosmetic duty free shops as tourism fell during the lucrative Chinese New Year period, according to a report by Forbes.
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