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CDI - Christian Dior SE News Story

€627.5 3.5  0.6%

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Consumer Cyclicals
Large Cap
Market Cap £96.95bn
Enterprise Value £142.34bn
Revenue £38.46bn
Position in Universe 8th / 850

Upbeat tourist sector in Britain helps Dior offset weakness in Paris

Mon 17th October, 2016 1:19pm
PARIS, Oct 17 (Reuters) - A spending spree by tourists in 
Britain helped Christian Dior Couture boost July-September 
revenues and offset sales weakness in Paris, where security 
fears curbed the number of visitors, its chief executive Sidney 
Toledano told Reuters. 
    The sharp fall in sterling versus other currencies since 
Britain voted to leave the European Union has encouraged 
tourists to go on a spending spree there. 
    "This summer, the flow of tourists in the UK more than 
offset the decline that happened in Paris," Toledano told 
    Foreign tourists have avoided France since militant Islamist 
gunmen killed 130 people in an attack in Paris last November. In 
July, an assailant drove a truck into crowds celebrating the 
Bastille Day national holiday on July 14 in the city of Nice, 
killing 86. 
    Foreign tourist arrivals to France could fall 4-5 percent 
this year, which would be the steepest decline in 40 years, 
according to Alliance 46.2, a group representing firms that rely 
on foreign visitors. 
    Dior  DIOR.PA  said on Friday its revenue from July 1 to 
Sept. 30 rose 7 percent to 502 million euros. Paris accounts for 
about 6 percent of its revenue, according analysts' estimates.*:nFWN1CK0N6 
    Toledano added that business in Hong Kong and Macao was 
improving, adding that he was confident about the outlook for 
Dior thanks to growth in Asia and the United States. 
 (Reporting by Pascale Denis; Writing by Maya Nikolaeva; Editing 
by Louise Heavens) 
 ((; +33 1 49 49 53 39; Reuters 
Keywords: DIOR SALES/
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