Sydney Airport reports retail growth
The airport’s earnings before interest tax depreciation and amortisation rose 10.3 per cent to $1.1 million compared to the previous corresponding period. There was a total 41.9 million passengers in 2016, up 5.6 per cent from the previous year with international and domestic passengers seeing a strong 8.9 per cent and 3.8 per cent growth respectively.
The airport’s retail business delivered revenue growth following the completion of the Heinemann Duty Free store.
“Passengers are enjoying an improved customer experience at T1 International, with better terminal wayfinding for passengers, additional seating closer to departure gates, increased natural light and enhanced retail offerings,” said Kerrie Mather, Sydney Airport managing director.
The terminal’s transformation, with a dedicated fashion precinct, has helped increase traveler spending through its redefined luxury offer, according to Sydney Airport. Ten of the 13 outlets are now open in the new T1 terminal which now includes Tiffany & Co, Kate Spade, Burberry, Max Mara, Hugo Boss and Michael Kors. Gucci will open in the first quarter of this year.
The fashion precinct occupies 1,900sqm and is part of Sydney Airport’s strategy to elevate the airport experience for passengers.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
Aussie retailers need to diversify their revenue streams, or risk becoming one of the many brands announcing store… https://t.co/DCKX3A1MXT1 day ago
The Iconic is offering customers pre-paid postage labels to send old clothes in good condition to charity, rather t… https://t.co/49zjMkOGOH2 days ago