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BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | November 18, 1992
Duty Free International said yesterday that sales at its Canadian border stores have continued to struggle under the weight of poor weather and a deep Canadian recession during the third quarter.Gerald Egan, the Ridgefield, Conn.-based company's chief financial officer, told investors at Alex. Brown & Sons' Consumer Growth Stocks Seminar in Baltimore that Duty Free's results from the northern border division, previously predicted as between flat and down 10 percent, would come "closer to the the minus 10 side."
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NEWS
By TYEESHA DIXON and TYEESHA DIXON,SUN REPORTER | August 11, 2006
Sales of alcohol, perfume and other items at airport duty-free shops fell immediately yesterday as passengers stopped buying those items in response to new government restrictions on liquids, gels and creams in carry-on baggage. Also, experts predict that airport retail shops will continue to suffer in light of yesterday's terror scare that forced passengers to dump their beverages, toothpaste and shampoo before boarding planes. But they expect food vendors and others to benefit from passengers who will face longer airport waits for flights because of the new security measures and have more time to spend money.
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BUSINESS
By David Conn and David Conn,Staff Writer | December 23, 1992
Duty Free International Inc., until recently one of Wall Street's darlings, was jilted once again yesterday, as news of sluggish sales along the Canadian border drove the company's stock price down 17 percent.Duty Free, which is based in Ridgefield, Conn., and has a division headquarters and major employment center in Glen Burnie, said poor weather and the Canadian recession have combined to cut sales to about 30 percent below expectations in the fourth quarter, which will end Jan. 31.If current trends continue, Duty Free said in a statement, fourth-quarter per-share earnings will be 18 cents to 22 cents, compared with 20 cents a year ago, and $1.19 to $1.23 per share for the full year.
FEATURES
By Susan Reimer | February 3, 2004
IT WASN'T JUST Janet Jackson's breast that had its protective covering stripped away this weekend. The American marriage is, kind of, out there, too. What rattled me more than the thought of those 10-year-olds in the television audience witnessing Justin Timberlake's rip job was the corporate thinking behind the new male impotency pill, Cialis, which made its advertising debut during the Super Bowl. Cialis is the latest entry in the erectile dysfunction drug wars. But instead of using a sports stud as a spokesman, like football's Mike Ditka for Levitra and baseball's Rafael Palmeiro for Viagra (Bob Dole was sooooooo not the right guy for that job)
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | December 9, 1992
Duty Free International Inc. is proving to be a stock for investors who like roller coaster rides.The Ridgefield, Conn.-based company's stock took a big hit on heavy volume Monday after reports surfaced that the Mexican government was tightening restrictions on the importation of duty-free merchandise.Monday's $2.50-a-share tumble, representing 8.5 percent of Duty Free's stock price, was deja vu for company officials. Duty Free saw its stock drop 13 percent one day in February when Canada floated a proposal to raise taxes on Canadian tobacco products brought back into the country -- a proposal the government later dropped.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 27, 1993
Duty Free International Inc. found a big friend in McDonald's Corp., and together they picked off one of the biggest plums in the airport retail industry yesterday -- the master concessions contract at the new international terminal at Chicago's O'Hare Airport.The tentative deal, which is subject to approval by the Chicago city council, represents a big chunk of new business for Ridgefield, Conn.-based DFI, which has a division headquarters and and operations center in Glen Burnie. The joint venture, Chicago Aviation Partners, is also a rare foray outside the fast-food business for McDonald's.
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
By David Conn and David Conn,Staff Writer | December 23, 1992
Duty Free International Inc., until recently one of Wall Street' darlings, was jilted once again yesterday, as news of sluggish sales along the Canadian border drove the company's stock price down 17 percent.Duty Free, which is based in Ridgefield, Conn., and has a division headquarters and major employment center in Glen Burnie, said poor weather and the Canadian recession have combined to cut sales to about 30 percent below expectations in the fourth quarter, which will end Jan. 31.If current trends continue, Duty Free said in a statement, fourth-quarter per-share earnings will be 18 cents to 22 cents, compared with 20 cents a year ago, and $1.19 to $1.23 per share for the full year.
BUSINESS
June 4, 1991
Duty Free InternationalThis 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.
BUSINESS
March 12, 1991
This Connecticut-based company, which has its administrative and distribution headquarters in Glen Burnie, reported record sales and earnings for its fourth quarter and fiscal year.Revenues for the fourth quarter, which ended Jan. 31, jumped 28 percent and net income was up 39 percent, compared to the same period a year earlier.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.
FEATURES
By ROB KASPER | February 1, 2003
YESTERDAY, a wave of panic washed over me as I realized I had no plans for the weekend. I figured I had better gin some up or I would be suffering. In my world, the phrase "plans for the weekend" does not mean slaloming down the slopes, or jetting to distant, sun-dappled isles. Instead, it usually means fixing something that is broken or roaming through hardware stores looking for parts. Long ago, I learned that if you don't have an agenda for a weekend, you are likely to get dragged into the projects of family members.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | January 20, 2001
World Duty Free Americas Inc., one of the largest providers of tax-free cigarettes, liquor and gifts to airport travelers, will move its headquarters from Connecticut to Anne Arundel County, economic development sources said yesterday. No one at the company could be reached for comment, but those familiar with the deal said 35 to 50 executives will relocate to Maryland as the Ridgefield, Conn., operation is consolidated into the Glen Burnie operation, where about 260 workers staff a warehouse and offices.
BUSINESS
March 31, 1994
Duty Free to buy rival InflightDuty Free International Inc., which operates a distribution center in Glen Burnie, yesterday announced a definitive agreement to buy Inflight Sales Group Ltd. for $70 million in cash and notes.The Ridgefield, Conn.-based company, which operates 170 duty-free shops, said the acquisition of the New York company that supplies duty-free merchandise to airlines eventually may result in more workers at the 175-employee center on Baymeadow Drive, said Gerald F. Egan, Duty Free's chief financial officer.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | October 13, 1993
Duty Free International Inc. began its process of management succession yesterday as it handed Alfred Carfora, its chief operating officer, the titles of president and co-chief executive officer.Mr. Carfora, 42, who had been executive vice president of the Ridgefield, Conn.-based company, will share the CEO duties with incumbent John A. Couri, 52, who added the position of chairman.David H. Bernstein, 58, a Baltimorean who had been chairman of DFI, became chairman of the executive committee of the board.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | July 13, 1993
Duty Free stock takes a big tumbleOnce again Duty Free International has shown it's not a company for timid investors.Shares in the Ridgefield, Conn.-based company, which has large divisional operation in Glen Burnie, lost almost a quarter of their value yesterday after the company warned investors of slumping sales at its stores along the Canadian border.Duty Free's stock plunged $6.25 to $19.875, off 23.9 percent from its close Friday.The company, which had reported "positive results" for the July 4 weekend, issued a statement saying that if the sudden negative trend continued, second-quarter earnings could drop to between cents and 31 cents, down from 35 cents in the same period last year.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | March 27, 1993
Duty Free International Inc. found a big friend in McDonald's Corp., and together they picked off one of the biggest plums in the airport retail industry yesterday -- the master concessions contract at the new international terminal at Chicago's O'Hare Airport.The tentative deal, which is subject to approval by the Chicago city council, represents a big chunk of new business for Ridgefield, Conn.-based DFI, which has a division headquarters and and operations center in Glen Burnie. The joint venture, Chicago Aviation Partners, is also a rare foray outside the fast-food business for McDonald's.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | October 13, 1993
Duty Free International Inc. began its process of management succession yesterday as it handed Alfred Carfora, its chief operating officer, the titles of president and co-chief executive officer.Mr. Carfora, 42, who had been executive vice president of the Ridgefield, Conn.-based company, will share the CEO duties with incumbent John A. Couri, 52, who added the position of chairman.David H. Bernstein, 58, a Baltimorean who had been chairman of DFI, became chairman of the executive committee of the board.
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 David Conn and David Conn,Staff Writer | December 23, 1992
Duty Free International Inc., until recently one of Wall Street' darlings, was jilted once again yesterday, as news of sluggish sales along the Canadian border drove the company's stock price down 17 percent.Duty Free, which is based in Ridgefield, Conn., and has a division headquarters and major employment center in Glen Burnie, said poor weather and the Canadian recession have combined to cut sales to about 30 percent below expectations in the fourth quarter, which will end Jan. 31.If current trends continue, Duty Free said in a statement, fourth-quarter per-share earnings will be 18 cents to 22 cents, compared with 20 cents a year ago, and $1.19 to $1.23 per share for the full year.
BUSINESS
By David Conn and David Conn,Staff Writer | December 23, 1992
Duty Free International Inc., until recently one of Wall Street's darlings, was jilted once again yesterday, as news of sluggish sales along the Canadian border drove the company's stock price down 17 percent.Duty Free, which is based in Ridgefield, Conn., and has a division headquarters and major employment center in Glen Burnie, said poor weather and the Canadian recession have combined to cut sales to about 30 percent below expectations in the fourth quarter, which will end Jan. 31.If current trends continue, Duty Free said in a statement, fourth-quarter per-share earnings will be 18 cents to 22 cents, compared with 20 cents a year ago, and $1.19 to $1.23 per share for the full year.
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