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  Official magazine of ACI
Friday, 08 March 2013 10:12

LS travel retail hails 'remarkable year'

Written by  Steven Thompson

LS travel retail has hailed its 2012 performance as “remarkable” against the backdrop of the current global economic crisis.

LS travel retail has hailed its 2012 performance as “remarkable” against the backdrop of the current global economic crisis.

As reported last month, the company reported a 12% increase in sales to €2.5 billion in 2012.

Operating in more than 25 countries throughout Europe, North America, Asia and the Pacific, LS travel retail, a division of Lagardère Services, operates 2,700 stores across the world, including a presence at more than 130 airports.

CEO, Dag Rasmussen, said: “In 2012, LS travel retail pursued its strategy, developing its business concepts and widening its offer with products providing higher margins and a higher level of sales, particularly in the duty free, convenience and food service sectors.

“This course of action, along with the speeding up of acquisitions, has led to the significant development of the concessions portfolio, which has been particularly beneficial for duty free and luxury and food service operations.

“This will be continued and expanded in 2013 across the three geographic areas in which LS travel retail operates.”

LS travel said in a statement that its performance was “all the more remarkable, given that the market environment in 2012 was characterised by the negative impact of the economic crisis”.

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