Dufry AG : Little improvement anticipated in Q2, but recovery nonetheless underway. Outperform reiterated
>Few surprises expected in Q2 - Dufry is due to publish Q2/H1 results on Tuesday 10 August before market open. We anticipate very few surprises in terms of operational performance (in Q2) since there has been very little change in the health situation (and therefore the trend in air traffic), particularly in Europe. In other markets, notably North America, the context is slightly more favourable. We forecast group revenue of CHF 781m over the quarter, down 66% vs 2019...Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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