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BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 17, 1992
Duty Free International Inc., the dominant operator of duty-free shops on the U.S.-Canadian border, made its long-expected move south today with the acquisition of UETA Inc. The San Antonio, Texas-based company has about 30 tax-free stores at 14 crossing points between the United States and Mexico, as well as retail and ship-supply Operations in Miami.The deal will nearly double the size of DFI, a Ridgefield, Conn.-based company with major operations in Glen Burnie.DFI posted $188 million in sales during its most recent fiscal year; UETA's sales topped $150 million.
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NEWS
By BRIAN SULLAM | January 17, 1999
CONFLICTS OF interest are a reality of modern life. They have to be acknowledged and dealt with. But imagined conflicts shouldn't paralyze governments, businesses or other institutions.Anne Arundel County Executive Janet S. Owens' decision to review all major subdivision approvals and waivers does not get at the heart of the conflict-of-interest problem that has arisen over the county's development approval process. It does, however, threaten to overwhelm her with work that requires a technical background she doesn't possess.
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BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 18, 1992
Duty Free International Inc., the dominant operator of duty-free shops along the U.S.-Canadian border, made a long-expected move south yesterday with the acquisition of UETA Inc., the owner of about 30 tax-free stores at 14 crossing points between the United States and Mexico.The deal will nearly double the size of DFI, a Ridgefield, Conn.-based company with major operations in Glen Burnie. UETA also owns retail and ship-supply operations in Miami.DFI Chairman David H. Bernstein said that with the acquisition, sales for this fiscal year probably will exceed $400 million.
NEWS
January 17, 1999
Willow Run articles were not accurateArticles on Dec. 22 and 29 misrepresented facts and implied impropriety in the approval of the Willow Run subdivision. Although the writer reviewed Anne Arundel County files, which are public, and met with the county planning staff, the articles were inaccurate.The article indicated that the county ethics commission determined that the project was approved in an unethical manner because of the relationship between Mark Wedemeyer, a planning and code enforcement administrator, and DFI Inc., which is owned by Ray Streib, his father-in-law.
BUSINESS
By Michael Dresser | February 24, 1992
SUMMARYCapitalizing on increased travel by foreigners in the United States, Duty Free International has swept to a dominant position its lucrative niche.David H. Bernstein got his start in the duty-free business at the age of 15, pushing a broom in the warehouse of Samuel Meisel & Co. on Baltimore's waterfront.He must have profited from the experience, because Mr. Bernstein is now chairman of a company that in less than a decade has swept to a dominant position in its lucrative niche, a listing on the New York Stock Exchange and one of the fastest growth records in the U.S. retail industry.
NEWS
By BRIAN SULLAM | January 17, 1999
CONFLICTS OF interest are a reality of modern life. They have to be acknowledged and dealt with. But imagined conflicts shouldn't paralyze governments, businesses or other institutions.Anne Arundel County Executive Janet S. Owens' decision to review all major subdivision approvals and waivers does not get at the heart of the conflict-of-interest problem that has arisen over the county's development approval process. It does, however, threaten to overwhelm her with work that requires a technical background she doesn't possess.
BUSINESS
August 31, 1993
Duty Free Internationl IncH:.. .. .. .. .. .. .. .. Ticker .. .. .. .. .. Yesterday's .. .. .. .. .. .. .. .. Symbol .. .. .. .. Cls. .. .. .. .. Chg... .. .. .. .. .. .. DFI .. .. .. .. .. 16 5/8 .. .. .. .. .. 5/8Period endedJuly 31 .. .. .. .. .. 2nd qtr. .. .. .. .. Year ago .. .. .. Chg.Revenue .. .. .. .. .. $99,252 .. .. .. .. $95,514 .. .. .. .. +3.9%Net Income .. .. .. .. $7,955 .. .. .. .. $9,931 .. .. .. .. .. 19.9%Primary EPS .. .. .. .. $0.29 .. .. .. .. $0.35 .. .. .. .. .. 17.1%.
NEWS
January 17, 1999
Willow Run articles were not accurateArticles on Dec. 22 and 29 misrepresented facts and implied impropriety in the approval of the Willow Run subdivision. Although the writer reviewed Anne Arundel County files, which are public, and met with the county planning staff, the articles were inaccurate.The article indicated that the county ethics commission determined that the project was approved in an unethical manner because of the relationship between Mark Wedemeyer, a planning and code enforcement administrator, and DFI Inc., which is owned by Ray Streib, his father-in-law.
BUSINESS
February 28, 1992
Crown Central PetroleumCiting a weak economy and increased competition, Baltimore-based Crown Central Petroleum Corp. reported a loss of $10.1 million in the fourth quarter and a loss of $6 million in 1991.Operating costs for the year included $16.8 million in pretax charges for environmental spending, store closings and a corporate reorganization, of which $4 million was recorded in the fourth quarter."Competition intensified throughout 1991," Chairman Henry A. Rosenberg Jr. said."Our margins, already measured in fractions of pennies per gallon, were squeezed even tighter as companies fought to maintain or gain market share through aggressive pricing at the pumps.
BUSINESS
March 2, 1994
Duty Free .. .. .. .. Ticker .. .. .. .. .. .. .. Yesterday'sInternational Inc. .. .. .. Symbol .. .. .. .. .. Cls. .. .. .. .. .. Chg... .. .. .. .. .. .. .. .. .. DFI .. .. .. .. .. ..17 1/8 .. .. .. .. .. + 3/8Period ended1/31/94 .. .. .. .. .. .. ..4th qtr. .. .. .. .. Year ago .. .. .. .. Chg.Revenue .. .. .. .. .. .. $94,665 .. .. .. .. ..$85,886 .. .. .. +10.2%Net Income .. .. .. .. .. ..$6,261 .. .. .. .. ..$6,001 .. .. .. .+4.3%Primary EPS .....
BUSINESS
August 31, 1993
Duty Free Internationl IncH:.. .. .. .. .. .. .. .. Ticker .. .. .. .. .. Yesterday's .. .. .. .. .. .. .. .. Symbol .. .. .. .. Cls. .. .. .. .. Chg... .. .. .. .. .. .. DFI .. .. .. .. .. 16 5/8 .. .. .. .. .. 5/8Period endedJuly 31 .. .. .. .. .. 2nd qtr. .. .. .. .. Year ago .. .. .. Chg.Revenue .. .. .. .. .. $99,252 .. .. .. .. $95,514 .. .. .. .. +3.9%Net Income .. .. .. .. $7,955 .. .. .. .. $9,931 .. .. .. .. .. 19.9%Primary EPS .. .. .. .. $0.29 .. .. .. .. $0.35 .. .. .. .. .. 17.1%.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 18, 1992
Duty Free International Inc., the dominant operator of duty-free shops along the U.S.-Canadian border, made a long-expected move south yesterday with the acquisition of UETA Inc., the owner of about 30 tax-free stores at 14 crossing points between the United States and Mexico.The deal will nearly double the size of DFI, a Ridgefield, Conn.-based company with major operations in Glen Burnie. UETA also owns retail and ship-supply operations in Miami.DFI Chairman David H. Bernstein said that with the acquisition, sales for this fiscal year probably will exceed $400 million.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 17, 1992
Duty Free International Inc., the dominant operator of duty-free shops on the U.S.-Canadian border, made its long-expected move south today with the acquisition of UETA Inc. The San Antonio, Texas-based company has about 30 tax-free stores at 14 crossing points between the United States and Mexico, as well as retail and ship-supply Operations in Miami.The deal will nearly double the size of DFI, a Ridgefield, Conn.-based company with major operations in Glen Burnie.DFI posted $188 million in sales during its most recent fiscal year; UETA's sales topped $150 million.
BUSINESS
February 28, 1992
Crown Central PetroleumCiting a weak economy and increased competition, Baltimore-based Crown Central Petroleum Corp. reported a loss of $10.1 million in the fourth quarter and a loss of $6 million in 1991.Operating costs for the year included $16.8 million in pretax charges for environmental spending, store closings and a corporate reorganization, of which $4 million was recorded in the fourth quarter."Competition intensified throughout 1991," Chairman Henry A. Rosenberg Jr. said."Our margins, already measured in fractions of pennies per gallon, were squeezed even tighter as companies fought to maintain or gain market share through aggressive pricing at the pumps.
BUSINESS
By Michael Dresser | February 24, 1992
David H. Bernstein got his start in the duty-free business at the age of 15, pushing a broom in the warehouse of Samuel Meisel & Co. on Baltimore's waterfront.He must have profited from the experience, because he is now chairman of a company that in less than a decade has swept to a dominant position in its lucrative niche, a listing on the New York Stock Exchange and one of the fastest growth records in the U.S. retail industry.By capitalizing on a long-term trend of increased travel by foreigners in the United States, Duty Free International has posted astonishing gains in sales and earnings in recent years.
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