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.

REGION Asia

Brand News

December 8 2021

Pernod Ricard GTR x DDF launch…

Pernod Ricard Global Travel Retail (PR GTR) has announced the launch of its exclusive Royal Salute Dubai City edition, in…

December 8 2021

GDF Plaza hosts inaugural FOREO…

Celebrating another first for FOREO, its sister brand FAQ™ and travel retailer GDF Plaza in Haikou, Hainan, hosted a special…

December 7 2021

Habanos debuts new cigar in Benelux…

​In a world premiere, Habanos S.A. has presented the new Juan López Selección Especial cigar through Laguito 1492, its exclusive…

December 7 2021

Bolloré Logistics names new Head…

​Bolloré Logistics, the international supply chain operator, has appointed Anne-Laure Marchal as Head of Cosmetics for the…

December 7 2021

Molton Brown aims to help build…

​British luxury fragrance brand Molton Brown is celebrating its 50th anniversary with a pledge…

December 7 2021

FOREO hosts training session with…

​Following the announcement of its new partnership with e-commerce specialist Yegeun F&C, Swedish beauty and tech giant FOREO…

December 7 2021

NARS gets playful in Hainan with…

​Shiseido Travel Retail brought star power to Haitang Bay with an exclusive consumer event for NARS showcasing the makeup…

December 7 2021

Puig spotlights niche fragrances…

​Beauty group Puig is bringing Penhaligon’s to life in activations at Dubai and London Heathrow airports amid rapid expansion…

December 6 2021

Bacardi opens three whisky shop-in-shops…

Bacardi Global Travel Retail has opened three whisky shop-in-shops at Mova Mall, Haikou in Hainan

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