March 12, 2020 / 6:24 AM / 18 days ago

Airport retailer Dufry trims jobs after coronavirus impact, sees no liquidity crunch

ZURICH, March 12 (Reuters) - Swiss travel retail group Dufry is cutting jobs, trimming costs and renegotiating rents after organic sales fell 3.8% through March 8 as the coronavirus pandemic hit global travel.

“We do not anticipate any liquidity problems during the crises,” Dufry said on Thursday. “The action plan is monitored on a weekly basis and includes initiatives to accelerate sales volumes, maintain gross profit margin levels, reduce personnel and other expenses as well as renegotiate rents.”

Reporting by Silke Koltrowitz

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