Duty-free retailer Avolta warns about Iran war impact as quarterly revenue dips (updated)
07/05/2026 05:51
Adds company comment in paragraphs 3 and 4, mid-term outlook confirmation in paragraph 5 May 7 (Reuters) - Swiss duty-free retailer Avolta AVOL.S reported a fall in quarterly turnover on Thursday and said it would adjust costs to protect profits, cash flow and capital allocation as the Middle East conflict remained a near-term risk. The company, which runs shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, posted a core turnover of 2.9 billion Swiss francs ($3.72 billion) for the first quarter, down from 3.05 billion a year earlier. "Current external uncertainties are expected to be temporary in nature," the company said, confirming its medium-term targets. ($1 = 0.7787 Swiss francs) (Reporting by Ozan Ergenay in Gdansk; Editing by Mrigank Dhaniwala) ((Ozan.Ergenay@thomsonreuters.com; +48 58 746 90 34))