Swiss duty free retailer Dufry raised its 2021 savings target and free cash flow guidance for the second time this year, citing a recovery in travel from the pandemic-related slump, primarily in the Western hemisphere. The retailer, which operates more than 2,300 shops at airports, on cruise liners, in seaports, and other tourist locations, is seeing signs of recovery after being severely hit over the last year and a half by the travel restrictions imposed to tackle the coronavirus pandemic. The group’s recovery has been specially driven by its main sector, The Americas, which made for 499 million Swiss francs ($543.16 million) of its 1.3 billion Swiss franc third quarter turnover. “We have seen continued progress in the US and Central America including the Caribbean Islands,” Chief Executive Julian Diaz said in a statement. The group now expects to achieve up to 1.87 billion Swiss francs ($2.04 billion) in savings …
RSS Feed | The Epoch Times