New retail benchmark set at Dubai Duty Free
Dubai Duty Free (DDF) has set a new retail benchmark with the posting of record monthly sales figures for October of 102.6 million Emirati dirhams ($28.5 million) and a new daily sales record for November 1, at Dh4.36 million ($1.2 million).
The new monthly record surpasses that set in March of this year—Dh90.7 million or $25 million—and represents a 59 percent increase in sales over October 2001. The new daily record edged past that set on February 21 and sets the tone for sales expectations in November, according to a company press release.
2002 is proving to be an exceptional year for Dubai Duty Free, with the operation setting to achieve its one billion Dh ($280 million) annual sales target. Year-to-date figures have reached Dh876 million ($240), representing a 19 percent increase in sales over the same period last year.
Commenting on the retail statistics, Colm McLoughlin, DDF managing director said: “In the month of October, the shopfloor sales surpassed those for the entire first year of operations (1984) when the annual turnover was Dh72.8 million ($20 million).”
The highest selling categories in the month of October included perfumes, which notched up monthly sales of Dh12.6 million ($3.5 million) closely followed by electronics which reached monthly sales of Dh12 million ($3.3 million).
“All the categories are growing well and in many cases exceeding their targets. In terms of worldwide sales, by the end of this year Dubai Duty Free should move into the top five in terms of airport duty free turnover worldwide,” added McLoughlin. — (menareport.com)
© 2002 Mena Report (www.menareport.com)