CANADA. Peace Arch Duty Free Shop today announced a +20.42% sales increase year-on-year for 2016 and an ambitious C$3.5 million (US$2.6 million) store refurbishment.
The Surrey, British Columbia-based company – Canada’s largest land border duty free retailer – said all product categories had generated substantial increases. It projected a further +7-10% rise in 2017.
The retailer said that customer traffic at the Peace Arch border crossing increased substantially due to the low Canadian Dollar and an increase in US visitors. It described Asian traffic numbers as stable but predicted a decline due to stricter regulations on upscale purchases being taken back into China. Commenting on the potential impact of the recent US election, the company said: “The Donald Trump factor is of concern in the event there are stricter regulations at the border.”
The retailer said it is committed to a complete renovation of its store to reflect the changing shopping environment. It has budgeted approximately C$3.5 million (US$2.6 million), including supplier participation for the project, which will be managed on a phased basis and completed by mid-2018.