14-Mar-2011 2:48 PM
Lotte Duty Free gets Gimpo contract
Analysis
Korea Airports Corp announced that Hotel Shilla Duty Free Shop has been awarded Section A and Hotel Lotte Duty Free Shop Section B in a tender to select operators of duty free stores at the Gimpo Airport's international terminal. Section A is allotted for cosmetics and perfume and B for liquor and tobacco. Shilla plans to launch operations in May-2011. Lotte Shopping Co shares eased 0.1% in trading.
Summary
- Hotel Shilla Duty Free Shop and Hotel Lotte Duty Free Shop have been awarded sections A and B, respectively, in a tender to operate duty free stores at Gimpo Airport's international terminal.
- Section A is designated for cosmetics and perfume, while section B is for liquor and tobacco.
- Hotel Shilla plans to commence operations in May 2011.
- Lotte Shopping Co shares experienced a slight decline of 0.1% following the announcement.
- gategroup shares saw a significant drop of 4.4%, the largest single-day fall since February 2011.
- Hellenic Duty Free and DO & CO experienced stronger trading activity.
gategroup shares dropped 4.4%, the largest single-day fall since Feb-2011. Hellenic Duty Free and DO & CO traded more strongly.
Selected Duty Free daily share price movements (% change): 11-Mar-2011
