What a difference a day makes. Yesterday travel retailer Jetset announced a 72% fall in net profit to just A$5.5m. Today its agency rival Flight Centre hit the ball out of the park with a A$200m net profit, 43% up on last financial year. So much for the prediction the Internet would kill bricks and mortar retail (though FLT is moving to a “blended travel network model”). The reality is the web is damaging those without a clear focus (Jeset) and rewarding those (Flight Centre) that do.
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