×
247
Fashion Jobs
SHOPPERS STOP LTD
Unit HR Head
Permanent · MUMBAI
FLOOR & FURNISHINGS INDIA PRIVATE LIMITED
Sales Executive/ Sales Officer
Permanent · PANCHKULA
SELECTIVE GLOBAL SEARCH PVT. LTD.
Retail Sales Executive
Permanent · MUMBAI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · HALDWANI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · Aligarh
SREEDHARA TEXTILES PRIVATE LIMITED
Deputy Manager - Fabric
Permanent · COIMBATORE
PANACEA VENCER
we Have Opening For Accounts Manager & Finance Manger For Garments
Permanent · COIMBATORE
JOBZ DADDY
Category Head For Home Decor of The Top Most Designer of India
Permanent · GURUGRAM
SMART SOURCE
Manager Market Place - Leading Fashion Retail - Bangalore
Permanent · Bengaluru
NCDI PLACEMENT CONSULTANCY
Accounts Executive For Retail Industry
Permanent · Lucknow
NCDI PLACEMENT CONSULTANCY
Customer Relationship Managere For Retail Industry
Permanent · LUCKNOW
PRIME PLACEMENT AND MANPOWER SERVICES
International Sales Executive - Female - Khokhra - Ahmedabad
Permanent · Ahmedabad
MIRRAW.COM
Production Manager | Mirraw
Permanent · MUMBAI
LIFESTYLE BRANDS
Senior Executive - Accounts - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU
HECTOR AND STREAK CONSULTING PVT LTD
Assistant Manager Production - Textile,Fabrics,Plastic,
Permanent · NASHIK
HECTOR AND STREAK CONSULTING PVT LTD
Manager Accounts - For a Manufacturing Company in Mumbai
Permanent · Mumbai
GENIUS CONSULTANTS LIMITED
Warehouse Manager in a Leading Garments Manufacturing Company
Permanent · Kolkata
GENIUS CONSULTANTS LIMITED
Digital Marketing Executive@ Hiring is Going on
Permanent · Kolkata
SUPER FASHION
HR Manager / sr. HR Manager (For Garments Industry)
Permanent · Faridabad

World Duty Free seeking concession opportunities

By
Reuters
Published
today Mar 11, 2014
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

MILAN, Italy - World Duty Free Group (WDFG) is looking to open concessions in big metropolitan airports worldwide and mid-sized airports in the United States, it said on Monday after posting 2013 sales in line with expectations.

WDFG, which was spun off from Italian motorway restaurant operator Autogrill in October, operates in five of the world's 30 biggest airports and is eyeing contracts due to come up for tender this year in Sydney, Abu Dhabi and Rio de Janeiro.

World Duty Free in Birmingham International Airport

"We will watch with a lot of attention all these opportunities," Chief Executive Jose Maria Palencia said on a conference call, adding that he also saw "a lot of potential" in mid-sized city airports in the United States.

The company said revenue rose 3.8 percent to 2.078 billion euros ($2.88 billion) in 2013, beating its own guidance and in line with analyst estimates of around 2.1 billion euros.

WDFG said sales had risen 11.6 percent at constant exchange rates in the first eight weeks of 2014, boosted by the contribution of its recently acquired U.S. retail business, which includes roughly 250 stores in 29 airports.

A new concession in Helsinki, which should be up and running by the end of March, will provide access to around 2 million high-spending Asian passengers, Palencia said.

The spin-off from Autogrill was partly intended to pave the way for tie-ups at both companies.

World Duty Free was smaller than Autogrill but growing in a profitable sector. Sweden-based Generation Research calculates duty free and travel retail sales - including transactions on airplanes and in free zones - was worth a preliminary $60.25 million in 2013.

"We are in an industry which is consolidating. We will always have this in mind," Palencia said, although he gave no indication of any current plans to tie up with other companies.

Analysts said at the time of the spin-off that possible partners for WDFG could include Switzerland-based travel retailer Nuance and Paris-based Lagardere Services, which also operates duty free stores and distribution services.

WDFG will pay dividends when it does not see opportunities to use its cash for acquisitions, Palencia said.

WDFG also said the board would ask shareholders to approve a share buyback programme, worth up to 5 percent of the company.

"It is an option the company will have, but it does not mean we will be buying back," Chief Financial Officer David Jimenez-Blanco said on the conference call.

The company said net profit increased by 5.1 percent to 105.8 million euros last year, above a mean forecast of 91.36 million euros from 12 analysts polled by Reuters.

Beauty products - the biggest segment of the travel retail market according to Generation Research - were also WDFG's biggest money-spinner in 2013, making up 44 percent of sales.

$1 = 0.7214 euros

© Thomson Reuters 2020 All rights reserved.