Dufry, the Swiss duty free retailer, has reported a substantial decrease in its first-quarter turnover, citing travel restrictions as the primary cause. The company experienced a 67% decline in underlying turnover, amounting to 460.3 million Swiss francs ($510 million).

Despite the difficult circumstances, Dufry remains optimistic and is focusing on its financial outlook for the remainder of the year. The company has developed two cash flow scenarios for 2021. The first scenario assumes a monthly cash flow break-even if turnover decreases by 40%, while the second scenario predicts a cash burn of 40 million Swiss francs if turnover falls by 55%.

With its headquarters in Basel, Dufry is determined to navigate through these challenging times and adapt to the evolving travel landscape. The company acknowledges the importance of adjusting its strategies and effectively managing its cash flow in order to overcome the obstacles presented by travel restrictions.

It is crucial to recognize that Dufry is not alone in its struggles. The entire travel retail industry has been heavily impacted by the ongoing pandemic. The implementation of travel restrictions globally has significantly reduced the demand for duty free shopping.

However, Dufry remains hopeful for the future. As travel restrictions gradually ease and consumer confidence begins to rebuild, the company anticipates a gradual recovery in its turnover. Dufry has already taken steps to adapt its operations to the current environment, focusing on cost management and efficiency measures.

The company’s financial outlook and cash flow scenarios serve as a framework for assessing and managing the potential risks and challenges that lie ahead. By closely monitoring its turnover and implementing cost-saving measures, Dufry aims to minimize the impact of the ongoing pandemic on its business.

In conclusion, the decline in Dufry’s first-quarter turnover highlights the significant hardships endured by the travel retail industry as a result of travel restrictions. Nevertheless, with its strategic financial outlook and adaptability, Dufry remains committed to overcoming these challenges and positioning itself for a stronger future.

For more information on Dufry’s first-quarter results, visit their official website: Dufry Official Website. Additionally, for insights into the impact of travel restrictions on the duty free retail industry, refer to this report: Travel Restrictions and Duty Free Retail Impact Report.