Duty free division Autogrill independently to exchange

Duty free division Autogrill independently to exchange

Following the split of Autogrill in a separate restaurant division and an independent duty free branch, the shares of the duty free division will be traded on the Borsa Italiana. The company says it is still doing well, despite the economic crisis in Europe.

Merger of duty free no longer an option

The board of directors of Autogrill has chosen the electronic stock market Borsa Italiana for the listing of the shares of World Duty Free (WDF), when the split of Travel Retail and Duty Free is completely handled. This would also mean that a merger with another big player in the duty fee business is no longer an option.

 

The decision still has to be approved at the WDF stockholders’ meetingin  the beginning of June, but since Autogrill owns all shares, this is only a formality.

 

Almost status quo in the first quarter

From the quarterly results announced by Autogrill, it looks like the company is succeeding in limiting the consequences of the lasting economic crisis: the consolidated turnover was 1,239.6 million euro, 0.2% lower than in the same quarter of the previous year. Traditionally the first quarter is the weakest for Autogrill.

 

Especially the activities at airports are performing well (restaurants and duty free). Autogrill has the United Kingdom and the United States to thank for this status quo, because on the European mainland – especially in Italy and Spain – the group is suffering from the crisis and lower consumption.

Questions or comments? Please feel free to contact the editors


Michael Kors wins battle to acquire Jimmy Choo

25/07/2017

Fashion company Michael Kors acquired luxury shoe brand Jimmy Choo for 896 million pounds (1 billion euro).

Skechers targets fifteen stores in the Benelux

24/07/2017

Shoe brand Skechers has plans to open fifteen Benelux stores. It already has stores in Amsterdam, Eindhoven, Wijnegem and an outlet store in Roermond, but it intends to expand in the next few years.

Martin Winkler is Falke Group’s new CEO

19/07/2017

Falke Group, known for its leg fashion brand Falke, announced Martin Winkler will become its new CEO, succeeding Uwe Bergheim, who will retire.

Marc O’Polo gets new CEO

19/07/2017

Current fashion brand Marc O’Polo CEO, Alexander Gedat, will step down on 31 August and Dieter Holzer will succeed him. He has plenty of experience as a leading figure in the fashion industry.

Multiple companies interested in Jimmy Choo

19/07/2017

Luxury shoe brand Jimmy Choo is attracting several interested buyers, apparently including Michael KorsInterparfums and Hony Capital.

Puma increases profit forecast again

18/07/2017

For the second time this fiscal year, German sports brand Puma increased its profit forecast. A strong first quarter prompted the first adjustment and this second quarter was also above expectations apparently.

Back to top