Stefanel's Interfashion unit sales up 11.2% in H1

23 Aug '05

7 min read

The Nuance Group is world leader in the airport retailing sector, with a market share of around 350 stores located in more than 17 different countries on 4 continents.

To fight the weak trend in consumer spending that began to show last year, various initiatives have been undertaken to hold down other operating costs, as well as to improve the product range, both in terms of mix and in terms of price. Nuance has also taken action to achieve in the medium term a revision of the indexing criteria used to cost certain airport concessions to adapt them to the new passenger mix and spending trends.

Specific initiatives are currently being defined and/or implemented to improve the structural performances of certain European operations, as well as those in Australia. At the same time, the process of simplifying the corporate structure and improving the central buying function is continuing.

Net sales by the Nuance Group during the period come to Euro 254.2 million, which is 2.6% lower than in first half 2004 (Euro 261.0 mn). Based on the same scope of consolidation and exchange rates, on the other hand, Nuance's net sales are more or less the same.

A number of factors have affected this trend: for example, from May 2005, when the second terminal at Antalia Airport was opened, it turned out that 70% of all passengers passed through it, which had a significant impact on the sales of operators located in the other terminal.

All of the retailers in terminal 1, including Nuance, have asked for the contractual conditions to be adjusted and this has already been approved by the airport authorities. Now it has to be approved by parliament. The new split is expected to be operative from this September.

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