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LS Travel Retail posts growth in 2011

RBR Staff Writer Published 12 March 2012

LS Travel Retail, a duty free division of Lagardere Services, has reported 8% growth in turnover to EUR2.3bn on a like-for-like basis in 2011.

France recorded strong growth, with duty free and luxury sales rising 10.4 % and news, gifts and convenience turnover up nearly 6%, reported DFNIonline.

Meanwhile, Poland recorded 9.1 % growth, driven by a 13% rise in duty free and luxury sales and an increase in the turnover of the 606 retail network stores operating under the Inmedio and Relay brand names.

In the Czech Republic, the retailer had continued strong growth and rose 14.5% in 2011 from last year, driven by a sharp increase of 53% in duty free and luxury sales.

Romanian turnover was up about 20% in 2011, with an expanded network of 185 points of sale (POS). In Bulgaria, LS Travel's network has grown by another 14 units, including a first Relay store at Sofia airport, with turnover up 60%.

The UK turnover grew more than 18% in 2011, boosted by duty free and fashion stores opening at London City airport and a Discover store at Glasgow airport.

In early 2012, the duty free retailer has opened three POS at Montego Bay airport in Jamaica, the website reported.

In Asia/Pacific, the company has bought 11 Whitcoulls shops across New Zealand's four major airports, in addition to obtaining the concession for a duty free outlet at Noumea airport.