Dufry: sales collapse 94% in April

(CercleFinance.com) - Dufry reported a sharp drop in its first-quarter sales on Tuesday, the latest sign that its business environment has been hammered by travel restrictions in place at most locations.


The Swiss travel retailer said that sales in the first three months of 2020 reached 1.4 billion Swiss francs, down 23.6% from 1.9 billion Swiss francs in the same period of 2019.

Sales were down 21.4% in organic terms, the group said.

In April, sales litterally collapsed 94.1% year-on-year, which "should not surprise the market" according to analysts, given the depressed sector.

In its statement, Dufry said that it was "well prepared" to face a challenging year, although this did not prevent the shares from falling by 5.7% in Zurich on Tuesday morning.

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