Thursday, 25 February 2021 17:56
Lagardère Travel Retail suffered a 60.4% decline in revenue on a like-for-like basis (59.7% consolidated) to â¬1,720 million/$1,960 million in 2020.
The duty free segment was impacted by a lack of passenger traffic
(-67% versus 2019 like-for-like), but the travel essentials sector benefitted from diversified distribution channels
(-53% versus 2019 like-for-like).
Announcing its full-year results today (25 February), parent Lagardère Group revealed a 38% like-for-like decline in revenue to â¬4,439m/$5,060m.
Fourth quarter sales for Lagardère Travel Retail were down by 64.9% like-for-like to â¬380m, on par with the decline in the third quarter, as the Paris-headquartered travel retailer felt the continued reverberation of global air traffic losses.