April 28 2021  |  Retailers

Lagardère TR Q1 results down 56.1% year on year

By Wendy Morley

Lagardère’s publishing division has been quite successful during the time of COVID-19, and this has helped the company weather the decidedly difficult time in travel retail.

In total, the company’s first-quarter revenue totalled €341 million US$411.9 million, which was down 57.6% as reported and down 56.1% like for like. This depended greatly on the region in question, however. The revenue “closely mirrored” trends in air passenger traffic, with a locked-down Europe; borders closed in Singapore, Australia and New Zealand; a more robust US with its domestic travel and increased sales in China.

In the EMEA, France dropped 59.7% over 2020, while the EMEA outside of France dropped even further, to -63.8%, reflecting more stringent travel restrictions. Central Europe performed “relatively” better, helped by city center shops.

In North America, January and February were in line with late 2020, but March showed improvement as vaccinations rolled out and restrictions on domestic travel in the US were eased.

In Asia-Pacific, a closed Pacific region was balanced in part by positive numbers in China. The region as a whole was down 31.9%, but revenue in China was actually up 37.1%.

As predicted, global domestic travel is beginning to show signs of recovery before international travel, as can be seen specifically in the US and China.

Despite positive increases in revenue in its publishing division, Lagardère is pressing ahead with its group-widecost cutting and cash control efforts in order to protect the liquidity of the company as a whole. Lagardère Travel Retail is actively continuing efforts to control cash, especially as regards working capital and capital expenditure in 2021.

Brand News

May 11 2021

Porsche new Hooks Series combines…

​Patrick Dempsey and Porsche Design began collaborating in January, and they have now entered a new phase of their partnership

By Wendy Morley

May 11 2021

Duty Free Global appoints Nathalie…

​Duty Free Global has announced the appointment of Nathalie Roelands as Chief Operations Officer

By Wendy Morley

May 11 2021

Penderyn's new £5 million distillery…

​On May 17, Penderyn will officially open a new distillery in North Wales

By Hibah Noor

May 5 2021

FOREO special edition LUNA™ series…

​Swedish company FOREO has announced that it has become the official Beauty Devices Provider for the first China International…

By Wendy Morley

May 5 2021

Habanos, S.A. reaches total revenues…

Corporación Habanos, S.A., which commercializes the 27 exclusive Habanos brands worldwide,…

By Laura Shirk

May 4 2021

Rituals Cosmetics expands Elixir…

Rituals Cosmetics has extended its Elixir Collection of haircare products to include new professional quality styling products…

By Laura Shirk

May 4 2021

FOREO named among top three skincare…

After closing 2020 with an almighty army of more than 20 million customers and steady growth of sales, skin-tech powerhouse…

By Laura Shirk

May 4 2021

LeVecke and MONARQ announce distribution…

LeVecke Corporation, leading beer, wine and spirits producer, and MONARQ Group, leading independent drinks distributor, have…

By Laura Shirk

May 3 2021

SK-II STUDIO unveils empowering…

Merging animation, live action and storytelling with a big purpose, global prestige skincare brand SK-II returns with its…

By Laura Shirk

Copyright 2021 DutyFree Magazine. All rights reserved. Privacy Policy Sitemap