24-Dec-2009 12:18 PM

European duty free and travel retail sales down 9% in Jul/Aug-2009

The European Travel Retail Council (ETRC) released (23-Dec-2009) its ETRC Index for Jul/Aug-2009, which shows European duty free and travel retail sales fell 9.3% year-on-year

European Travel Retail Council: “Clearly traders had hoped for and expected a better improvement in the business in July and August, especially as there were appreciable improvements in passenger numbers. The sad fact is that business has not really improved a lot since March. Against results in 2008 European sales have this year improved month by month and are likely to catch up with the 2008 monthly performance towards the end of this year, especially as the last months of 2008 were especially poor,” Yngve Bla, President Generation Research. Source: Trend, 23-Dec-2009.