Duty Free International
This Connecticut-based company, which has its administrative and distribution headquarters in Glen Burnie, reported record sales and earnings for its first quarter, which ended April 30, compared to the same period a year ago.
Revenues jumped 80 percent, to $33.3 million; net income increased 46 percent; and earnings per share went up 44 percent.
The company attributed its strong performance to its stores along the Canadian border. Although international travel fell off during the Persian Gulf war, tourists still traveled between Canada and the United States, Burton Fischler, a Duty Free spokesman, said.
Duty Free is a leading operator of duty-free retail stores, which sell liquor, tobacco products, perfume and other luxury items at 20 percent to 60 percent off average retail prices in U.S. airports. It has a gift shop and portable rolling cart in Baltimore-Washington International Airport.
Three months ended 4/30/91
Revenue ... Net ... Share
'91 ... 33,301,000 ... 2,875,000 ... 0.26
'90 ... 18,545,000 ... 1,966,000 ... 0.18
% change ... +79.6 ... +46.2 ... +44.4