Lotte Duty Free, which has seen a sharp decline in performance due to a decrease in visitors, is systematically closing underperforming overseas stores.
According to the industry on the 22nd, Lotte Duty Free ended operations at the Wellington Airport store in New Zealand last February. Lotte Duty Free also closed its operations at the downtown Melbourne store in Australia last August.
This is explained as a measure to streamline operations by closing stores that have small sales volumes and low efficiency, and focusing on larger airports such as Melbourne Airport and Brisbane Airport.
Recently, there were local reports stating that the Guam Airport store, with its contract set to expire in July next year, is also reviewing the possibility of ending operations. In response, Lotte Duty Free noted, "There is still more than a year left on the contract, and no bids have been issued. We are reviewing operational options thereafter, and nothing has been decided so far."
Additionally, it added, "We are currently focusing on strengthening revenue through sound management of domestic and international stores, and are reviewing various forms of operational strategies."