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FINANCIAL NEWS
Dubai Duty Free to hit $1.25b in sales in 2010
30 Dec 2010
(MENAFN) Officails at Dubai Duty Free, the world’s largest airport retailer is set to generate double-digit growth in sales in 2010, amounting to $1.25 billion, against $1.14, year on year, registering a 9.6 percent surge, Khaleej Times reported.
According to officials, the surge in sales is attributed to an increase in airport passengers, whereas Dubai International Airport’s passenger traffic numbers year-to-date reached 42.9 million, compared to over 37 million recorded in the corresponding period in 2009, showing an increase of 15.6 percent.
In addition to passenger number, a significant increase in retail space is also one of the reasons for rising sales. Dubai Duty Free retail space jumped by 8,000 square meters two years ago when Terminal 3, which was dedicated to Emirates airline, was inaugurated. Another 8,000 square meters space will be added with the opening of Concourse 3 which is scheduled to open in 2012 for A380 super-jumbo, revealed the officials.
From a category point of view, perfumes were the highest selling category with sales of $5.9 million, representing 33 percent of the total daily sales. Watches and Clocks were ranked second on the anniversary day with sales of $4.8 million. Cosmetics came in at third place, category wise, with sales of $1.5 million.
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