Airport retailer says upbeat about 2018 prospects on back of record sales during 2017
Dubai Duty Free announced first quarter sales of AED1.91 billion ($520 million) representing an 11 percent over the same period last year.
The airport retailer said the figures signalled a positive start to 2018 on the back of record sales of AED7.05 billion in 2017.
It added in a statement that sales for March reached a new monthly record of AED660.36 million, up 10 percent over March 2017. So far this year, monthly sales are in excess of AED600 million, with an average daily sale of AED21.23 million.
Colm McLoughlin, executive vice chairman and CEO of Dubai Duty Free said: “We are very pleased with the first quarter of the year sales and are focused on reaching our targets for the year. Sales are ahead of passenger numbers at Dubai International Airport and we are seeing double digit growth across a wide number of categories.”
Sales across all three terminals at Dubai International Airport showed an upward trend, including a 14 percent increase in Terminal 2 and a 13 percent increase in sales in Terminal 3.
Liquor, Perfumes and Tobacco held the top three spots category-wise in the first quarter of the year.
“There are a number of factors behind the sales growth, including the refurbishment of Concourse C, which will be fully completed shortly and other ongoing projects,” said McLoughlin.
“While the introduction of VAT and Excise duty in our Arrivals Duty Free has resulted in a drop in revenue in these areas, the fact that VAT is not applicable for the majority of sales in Departures has contributed to an increase in certain categories for departing and transit passengers.”
Looking ahead, Dubai Duty Free said it will continue to enhance its retail operation in 2018 including the expansion of the Passenger Terminal Building at Al Maktoum International, a Fashion revamp in Terminal 3-Concourse B and refurbishment of Terminal 1 – Concourse C.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.