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<br /> TFWA's Sarah<br /> Branquinho talks<br /> Taste of the World<br /> `Test and learn'<br /> feeds creative F&B<br /> strategy at LHR<br /> Hybrid concepts<br /> driving meaningful<br /> engagement<br /> - ESTABLISHED 1997 -<br /> HELPING THE INDUSTRY GROW<br /> FEBRUARY 2026<br /> 50+ pages of food,<br /> confectionery and<br /> airport dining intel<br /> The experiential<br /> evolution of airside<br /> smoking lounges<br /> Lifting the lid on<br /> confectionery's next<br /> big breakout trend<br /> Patrick Coveney<br /> Dwell time phenomenon & consumer curiosity fuelling airport F&B... p19<br /> ALSO INSIDE<br /> NEWS DIGEST | OSBORNE'S RENEWABLE ENERGY GOALS | TR CONSUMER FORUM<br /> EN ROUTE TO GENEVA | IAADFS SOA KEY METRICS | FUNCTIONAL CONFECTIONERY<br /> TOBACCO SHOPPER DATA & TRADING DYNAMICS | SHELF APPEAL | PEOPLE NEWS<br /> <br /> WELCOME<br /> Welcome to the February issue<br /> F&B – an emerging strategic sales l<a title="TRBusiness February 2026 page 1" href="https://secure.viewer.zmags.com/publication/2219f069?page=1"> TFWA's Sarah Branquinho talks Taste of the World </a> <a title="TRBusiness February 2026 page 2" href="https://secure.viewer.zmags.com/publication/2219f069?page=2"> </a> <a title="TRBusiness February 2026 page 3" href="https://secure.viewer.zmags.com/publication/2219f069?page=3"> WELCOME Welcome to the February issue F&B – an </a> <a title="TRBusiness February 2026 page 4" href="https://secure.viewer.zmags.com/publication/2219f069?page=4"> Contents TRBusiness Volume 29, Issue 02 February </a> <a title="TRBusiness February 2026 page 5" href="https://secure.viewer.zmags.com/publication/2219f069?page=5"> Responding to challenges... 67 Navigating c</a> <a title="TRBusiness February 2026 page 6" href="https://secure.viewer.zmags.com/publication/2219f069?page=6"> NEWS ROUNDUP Lagardère TR tops €6bn in 2025, b</a> <a title="TRBusiness February 2026 page 7" href="https://secure.viewer.zmags.com/publication/2219f069?page=7"> NEWS ROUNDUP TAV Airports' duty-free sales rose</a> <a title="TRBusiness February 2026 page 8" href="https://secure.viewer.zmags.com/publication/2219f069?page=8"> WINNING THE CONSUMER VOTE TRAVEL RETAIL AWARDS</a> <a title="TRBusiness February 2026 page 9" href="https://secure.viewer.zmags.com/publication/2219f069?page=9"> WHSNA opens stores at Albuquerque Sunport Photo: </a> <a title="TRBusiness February 2026 page 10" href="https://secure.viewer.zmags.com/publication/2219f069?page=10"> NEWS ROUNDUP 33 VVaalleennttiinnee''s DDaayy aac</a> <a title="TRBusiness February 2026 page 11" href="https://secure.viewer.zmags.com/publication/2219f069?page=11"> NEWS ROUNDUP China Trading Desk forecasts US$2</a> <a title="TRBusiness February 2026 page 12" href="https://secure.viewer.zmags.com/publication/2219f069?page=12"> THE BIG PICTURE 12 TRBUSINESS </a> <a title="TRBusiness February 2026 page 13" href="https://secure.viewer.zmags.com/publication/2219f069?page=13"> Bill's to open first airport location at Heathrow </a> <a title="TRBusiness February 2026 page 14" href="https://secure.viewer.zmags.com/publication/2219f069?page=14"> TR SUSTAINABILITY HUB GREEN GOAL UNLOCKED How </a> <a title="TRBusiness February 2026 page 15" href="https://secure.viewer.zmags.com/publication/2219f069?page=15"> TR SUSTAINABILITY HUB self-generated renewable e</a> <a title="TRBusiness February 2026 page 16" href="https://secure.viewer.zmags.com/publication/2219f069?page=16"> 1-3 July, 2026 Geneva Register to attend H</a> <a title="TRBusiness February 2026 page 17" href="https://secure.viewer.zmags.com/publication/2219f069?page=17"> PLATINUM SPONSORS OPENING COCKTAIL SPO</a> <a title="TRBusiness February 2026 page 18" href="https://secure.viewer.zmags.com/publication/2219f069?page=18"> TR CONSUMER FORUM 2026 TR Consumer Forum dates </a> <a title="TRBusiness February 2026 page 19" href="https://secure.viewer.zmags.com/publication/2219f069?page=19"> COVER INTERVIEW: SSP `Pure retail space may shr</a> <a title="TRBusiness February 2026 page 20" href="https://secure.viewer.zmags.com/publication/2219f069?page=20"> COVER INTERVIEW: SSP Above</a> <a title="TRBusiness February 2026 page 21" href="https://secure.viewer.zmags.com/publication/2219f069?page=21"> COVER INTERVIEW: SSP around younger travellers.”</a> <a title="TRBusiness February 2026 page 22" href="https://secure.viewer.zmags.com/publication/2219f069?page=22"> COVER INTERVIEW: SSP Above: At</a> <a title="TRBusiness February 2026 page 23" href="https://secure.viewer.zmags.com/publication/2219f069?page=23"> COVER INTERVIEW: SSP huge growth in traveller nu</a> <a title="TRBusiness February 2026 page 24" href="https://secure.viewer.zmags.com/publication/2219f069?page=24"> COVER INTERVIEW: SSP Above:</a> <a title="TRBusiness February 2026 page 25" href="https://secure.viewer.zmags.com/publication/2219f069?page=25"> </a> <a title="TRBusiness February 2026 page 26" href="https://secure.viewer.zmags.com/publication/2219f069?page=26"> TFWA Branquinho: “Our industry stands at the in</a> <a title="TRBusiness February 2026 page 27" href="https://secure.viewer.zmags.com/publication/2219f069?page=27"> TFWA The Management Committee is elected for a t</a> <a title="TRBusiness February 2026 page 28" href="https://secure.viewer.zmags.com/publication/2219f069?page=28"> TFWA “Personally, I have always felt that the o</a> <a title="TRBusiness February 2026 page 29" href="https://secure.viewer.zmags.com/publication/2219f069?page=29"> TFWA not found in most retail settings, and cert</a> <a title="TRBusiness February 2026 page 30" href="https://secure.viewer.zmags.com/publication/2219f069?page=30"> SUMMIT OF THE AMERICAS 2026 </a> <a title="TRBusiness February 2026 page 31" href="https://secure.viewer.zmags.com/publication/2219f069?page=31"> SUMMIT OF THE AMERICAS 2026 Carisam-Samuel Meise</a> <a title="TRBusiness February 2026 page 32" href="https://secure.viewer.zmags.com/publication/2219f069?page=32"> SUMMIT OF THE AMERICAS 2026 demand. To date we'v</a> <a title="TRBusiness February 2026 page 33" href="https://secure.viewer.zmags.com/publication/2219f069?page=33"> SUMMIT OF THE AMERICAS 2026 What is the outlook </a> <a title="TRBusiness February 2026 page 34" href="https://secure.viewer.zmags.com/publication/2219f069?page=34"> INTERVIEW Inside the secret squad giving Lagard</a> <a title="TRBusiness February 2026 page 35" href="https://secure.viewer.zmags.com/publication/2219f069?page=35"> INTERVIEW manage complex projects end-to-end – w</a> <a title="TRBusiness February 2026 page 36" href="https://secure.viewer.zmags.com/publication/2219f069?page=36"> INTERVIEW term impact. This strategic capability</a> <a title="TRBusiness February 2026 page 37" href="https://secure.viewer.zmags.com/publication/2219f069?page=37"> INTERVIEW out was the overnight takeover at Amst</a> <a title="TRBusiness February 2026 page 38" href="https://secure.viewer.zmags.com/publication/2219f069?page=38"> TRAVEL RETAIL AWARDS Capitalise on 10 new oppor</a> <a title="TRBusiness February 2026 page 39" href="https://secure.viewer.zmags.com/publication/2219f069?page=39"> TRAVEL RETAIL AWARDS to £365 (+20% VAT) from 25 </a> <a title="TRBusiness February 2026 page 40" href="https://secure.viewer.zmags.com/publication/2219f069?page=40"> </a> <a title="TRBusiness February 2026 page 41" href="https://secure.viewer.zmags.com/publication/2219f069?page=41"> CONFECTIONERY INSIGHTS Gifting and impulse purc</a> <a title="TRBusiness February 2026 page 42" href="https://secure.viewer.zmags.com/publication/2219f069?page=42"> CONFECTIONERY INSIGHTS initiate interaction with</a> <a title="TRBusiness February 2026 page 43" href="https://secure.viewer.zmags.com/publication/2219f069?page=43"> CONFECTIONERY INSIGHTS reaching the travel retai</a> <a title="TRBusiness February 2026 page 44" href="https://secure.viewer.zmags.com/publication/2219f069?page=44"> HEATHROW Test and learn approach paves the way </a> <a title="TRBusiness February 2026 page 45" href="https://secure.viewer.zmags.com/publication/2219f069?page=45"> HEATHROW boundaries” on what may be possible in </a> <a title="TRBusiness February 2026 page 46" href="https://secure.viewer.zmags.com/publication/2219f069?page=46"> </a> <a title="TRBusiness February 2026 page 47" href="https://secure.viewer.zmags.com/publication/2219f069?page=47"> FOOD & CONFECTIONERY REPORT Suppliers talk stra</a> <a title="TRBusiness February 2026 page 48" href="https://secure.viewer.zmags.com/publication/2219f069?page=48"> FOOD & CONFECTIONERY REPORT “Ultimately, the bi</a> <a title="TRBusiness February 2026 page 49" href="https://secure.viewer.zmags.com/publication/2219f069?page=49"> FOOD & CONFECTIONERY REPORT products, formats an</a> <a title="TRBusiness February 2026 page 50" href="https://secure.viewer.zmags.com/publication/2219f069?page=50"> FOOD & CONFECTIONERY REPORT A</a> <a title="TRBusiness February 2026 page 51" href="https://secure.viewer.zmags.com/publication/2219f069?page=51"> Kids and grown-ups love it so, the happy world of</a> <a title="TRBusiness February 2026 page 52" href="https://secure.viewer.zmags.com/publication/2219f069?page=52"> discover your next destination</a> <a title="TRBusiness February 2026 page 53" href="https://secure.viewer.zmags.com/publication/2219f069?page=53"> FOOD & CONFECTIONERY REPORT a significant opportu</a> <a title="TRBusiness February 2026 page 54" href="https://secure.viewer.zmags.com/publication/2219f069?page=54"> FOOD & CONFECTIONERY REPORT “While competitive </a> <a title="TRBusiness February 2026 page 55" href="https://secure.viewer.zmags.com/publication/2219f069?page=55"> FOOD & CONFECTIONERY REPORT The ability to t</a> <a title="TRBusiness February 2026 page 56" href="https://secure.viewer.zmags.com/publication/2219f069?page=56"> </a> <a title="TRBusiness February 2026 page 57" href="https://secure.viewer.zmags.com/publication/2219f069?page=57"> FOOD & CONFECTIONERY REPORT strengthening partne</a> <a title="TRBusiness February 2026 page 58" href="https://secure.viewer.zmags.com/publication/2219f069?page=58"> FOOD & CONFECTIONERY REPORT </a> <a title="TRBusiness February 2026 page 59" href="https://secure.viewer.zmags.com/publication/2219f069?page=59"> FOOD & CONFECTIONERY REPORT on sustainable, eleg</a> <a title="TRBusiness February 2026 page 60" href="https://secure.viewer.zmags.com/publication/2219f069?page=60"> FOOD & CONFECTIONERY REPORT </a> <a title="TRBusiness February 2026 page 61" href="https://secure.viewer.zmags.com/publication/2219f069?page=61"> FOOD & CONFECTIONERY REPORT they need to see tha</a> <a title="TRBusiness February 2026 page 62" href="https://secure.viewer.zmags.com/publication/2219f069?page=62"> FOOD & CONFECTIONERY REPORT Above:</a> <a title="TRBusiness February 2026 page 63" href="https://secure.viewer.zmags.com/publication/2219f069?page=63"> FOOD & CONFECTIONERY REPORT help convert footfal</a> <a title="TRBusiness February 2026 page 64" href="https://secure.viewer.zmags.com/publication/2219f069?page=64"> FOOD & CONFECTIONERY REPORT </a> <a title="TRBusiness February 2026 page 65" href="https://secure.viewer.zmags.com/publication/2219f069?page=65"> FOOD & CONFECTIONERY REPORT confectionery experi</a> <a title="TRBusiness February 2026 page 66" href="https://secure.viewer.zmags.com/publication/2219f069?page=66"> </a> <a title="TRBusiness February 2026 page 67" href="https://secure.viewer.zmags.com/publication/2219f069?page=67"> FOOD & CONFECTIONERY: CHALLENGES Cost pressures</a> <a title="TRBusiness February 2026 page 68" href="https://secure.viewer.zmags.com/publication/2219f069?page=68"> FOOD & CONFECTIONERY: CHALLENGES Jan Pasold</a> <a title="TRBusiness February 2026 page 69" href="https://secure.viewer.zmags.com/publication/2219f069?page=69"> FOOD & CONFECTIONERY: CHALLENGES and are more se</a> <a title="TRBusiness February 2026 page 70" href="https://secure.viewer.zmags.com/publication/2219f069?page=70"> COST OF COCOA Chocolate suppliers in DF&TR trav</a> <a title="TRBusiness February 2026 page 71" href="https://secure.viewer.zmags.com/publication/2219f069?page=71"> COST OF COCOA agrees that cocoa prices are likel</a> <a title="TRBusiness February 2026 page 72" href="https://secure.viewer.zmags.com/publication/2219f069?page=72"> COST OF COCOA of our long-term vision.” </a> <a title="TRBusiness February 2026 page 73" href="https://secure.viewer.zmags.com/publication/2219f069?page=73"> COST OF COCOA emerging players in fine cocoa prod</a> <a title="TRBusiness February 2026 page 74" href="https://secure.viewer.zmags.com/publication/2219f069?page=74"> FOOD & CONFECTIONERY: TRENDS Travel retail supp</a> <a title="TRBusiness February 2026 page 75" href="https://secure.viewer.zmags.com/publication/2219f069?page=75"> FOOD & CONFECTIONERY: TRENDS contrasts and surpr</a> <a title="TRBusiness February 2026 page 76" href="https://secure.viewer.zmags.com/publication/2219f069?page=76"> FOOD & CONFECTIONERY: TRENDS A</a> <a title="TRBusiness February 2026 page 77" href="https://secure.viewer.zmags.com/publication/2219f069?page=77"> FOOD & CONFECTIONERY: TRENDS 70% cocoa tablet, w</a> <a title="TRBusiness February 2026 page 78" href="https://secure.viewer.zmags.com/publication/2219f069?page=78"> FOOD & CONFECTIONERY: TRENDS </a> <a title="TRBusiness February 2026 page 79" href="https://secure.viewer.zmags.com/publication/2219f069?page=79"> HYBRID RETAILF&B `Flexible', `experiential' & </a> <a title="TRBusiness February 2026 page 80" href="https://secure.viewer.zmags.com/publication/2219f069?page=80"> HYBRID RETAILF&B “What drives investment in th</a> <a title="TRBusiness February 2026 page 81" href="https://secure.viewer.zmags.com/publication/2219f069?page=81"> HYBRID RETAILF&B said. “When passengers positiv</a> <a title="TRBusiness February 2026 page 82" href="https://secure.viewer.zmags.com/publication/2219f069?page=82"> HYBRID RETAILF&B “We place [a] strong emphasis</a> <a title="TRBusiness February 2026 page 83" href="https://secure.viewer.zmags.com/publication/2219f069?page=83"> HYBRID RETAILF&B Above: </a> <a title="TRBusiness February 2026 page 84" href="https://secure.viewer.zmags.com/publication/2219f069?page=84"> HYBRID RETAILF&B Above: Mon</a> <a title="TRBusiness February 2026 page 85" href="https://secure.viewer.zmags.com/publication/2219f069?page=85"> HYBRID RETAILF&B `Little' or the `You Are Here </a> <a title="TRBusiness February 2026 page 86" href="https://secure.viewer.zmags.com/publication/2219f069?page=86"> HYBRID RETAILF&B Above: The 1,1</a> <a title="TRBusiness February 2026 page 87" href="https://secure.viewer.zmags.com/publication/2219f069?page=87"> FUNCTIONAL CONFECTIONERY Unwrapping the buzz arou</a> <a title="TRBusiness February 2026 page 88" href="https://secure.viewer.zmags.com/publication/2219f069?page=88"> FUNCTIONAL CONFECTIONERY </a> <a title="TRBusiness February 2026 page 89" href="https://secure.viewer.zmags.com/publication/2219f069?page=89"> FUNCTIONAL CONFECTIONERY spotlighting these prod</a> <a title="TRBusiness February 2026 page 90" href="https://secure.viewer.zmags.com/publication/2219f069?page=90"> FUNCTIONAL CONFECTIONERY “</a> <a title="TRBusiness February 2026 page 91" href="https://secure.viewer.zmags.com/publication/2219f069?page=91"> AIRPORTS CONTRACTS RETAIL BRANDS AIRLIN STORES CR</a> <a title="TRBusiness February 2026 page 92" href="https://secure.viewer.zmags.com/publication/2219f069?page=92"> Find your fresh match. Full of taste, </a> <a title="TRBusiness February 2026 page 93" href="https://secure.viewer.zmags.com/publication/2219f069?page=93"> TOBACCO INSIGHTS Opportunity to drive premiumis</a> <a title="TRBusiness February 2026 page 94" href="https://secure.viewer.zmags.com/publication/2219f069?page=94"> TOBACCO INSIGHTS Above: Tobacc</a> <a title="TRBusiness February 2026 page 95" href="https://secure.viewer.zmags.com/publication/2219f069?page=95"> TOBACCO INSIGHTS Above: PXX and cheaper pricin</a> <a title="TRBusiness February 2026 page 96" href="https://secure.viewer.zmags.com/publication/2219f069?page=96"> Smoking seriously harms you and others around you</a> <a title="TRBusiness February 2026 page 97" href="https://secure.viewer.zmags.com/publication/2219f069?page=97"> TOBACCO & NICOTINE ALTERNATIVES Transforming tr</a> <a title="TRBusiness February 2026 page 98" href="https://secure.viewer.zmags.com/publication/2219f069?page=98"> TOBACCO & NICOTINE ALTERNATIVES “As restriction</a> <a title="TRBusiness February 2026 page 99" href="https://secure.viewer.zmags.com/publication/2219f069?page=99"> TOBACCO & NICOTINE ALTERNATIVES balanced multi-c</a> <a title="TRBusiness February 2026 page 100" href="https://secure.viewer.zmags.com/publication/2219f069?page=100"> THE FINEST TOBACCO. HAND SELECTED. </a> <a title="TRBusiness February 2026 page 101" href="https://secure.viewer.zmags.com/publication/2219f069?page=101"> TOBACCO & NICOTINE ALTERNATIVES brand trust, whi</a> <a title="TRBusiness February 2026 page 102" href="https://secure.viewer.zmags.com/publication/2219f069?page=102"> TOBACCO & NICOTINE ALTERNATIVES </a> <a title="TRBusiness February 2026 page 103" href="https://secure.viewer.zmags.com/publication/2219f069?page=103"> </a> <a title="TRBusiness February 2026 page 104" href="https://secure.viewer.zmags.com/publication/2219f069?page=104"> TOBACCO & NICOTINE ALTERNATIVES Right: Oliva, pa</a> <a title="TRBusiness February 2026 page 105" href="https://secure.viewer.zmags.com/publication/2219f069?page=105"> FUEL YOUR FLAVOR OWN THE NEW AL FAKHER CRAFTED MI</a> <a title="TRBusiness February 2026 page 106" href="https://secure.viewer.zmags.com/publication/2219f069?page=106"> DISCOVER A NEW WAVE OF BLENDS A FRESH LINEUP OF C</a> <a title="TRBusiness February 2026 page 107" href="https://secure.viewer.zmags.com/publication/2219f069?page=107"> TOBACCO & NICOTINE ALTERNATIVES spend in dut</a> <a title="TRBusiness February 2026 page 108" href="https://secure.viewer.zmags.com/publication/2219f069?page=108"> NEW SENSATIONAL NEW WAY TO ENJOY T</a> <a title="TRBusiness February 2026 page 109" href="https://secure.viewer.zmags.com/publication/2219f069?page=109"> SMOKING LOUNGES Exploring the experiential rein</a> <a title="TRBusiness February 2026 page 110" href="https://secure.viewer.zmags.com/publication/2219f069?page=110"> SMOKING LOUNGES Above: BAT's flag</a> <a title="TRBusiness February 2026 page 111" href="https://secure.viewer.zmags.com/publication/2219f069?page=111"> SMOKING LOUNGES Evolving expectations For BAT GT</a> <a title="TRBusiness February 2026 page 112" href="https://secure.viewer.zmags.com/publication/2219f069?page=112"> SMOKING LOUNGES Above: BAT GT</a> <a title="TRBusiness February 2026 page 113" href="https://secure.viewer.zmags.com/publication/2219f069?page=113"> SMOKING LOUNGES common characteristics that turn</a> <a title="TRBusiness February 2026 page 114" href="https://secure.viewer.zmags.com/publication/2219f069?page=114"> SMOKING LOUNGES Above: </a> <a title="TRBusiness February 2026 page 115" href="https://secure.viewer.zmags.com/publication/2219f069?page=115"> SMOKING LOUNGES Above: Sin</a> <a title="TRBusiness February 2026 page 116" href="https://secure.viewer.zmags.com/publication/2219f069?page=116"> COUNTER INTELLIGENCE Some of the best in Febru</a> <a title="TRBusiness February 2026 page 117" href="https://secure.viewer.zmags.com/publication/2219f069?page=117"> COUNTER INTELLIGENCE Bric's expands Taormina trol</a> <a title="TRBusiness February 2026 page 118" href="https://secure.viewer.zmags.com/publication/2219f069?page=118"> HERO PRODUCT SHELF APPEAL TRBusiness zooms in</a> <a title="TRBusiness February 2026 page 119" href="https://secure.viewer.zmags.com/publication/2219f069?page=119"> OVER TO YOU: NITR Gen Z: The next big break for c</a> <a title="TRBusiness February 2026 page 120" href="https://secure.viewer.zmags.com/publication/2219f069?page=120"> PEOPLE People News Carmen Schmidt ap</a> <a title="TRBusiness February 2026 page 121" href="https://secure.viewer.zmags.com/publication/2219f069?page=121"> WORK LIFE Spend a workday with... Ramon Olivé Alt</a> <a title="TRBusiness February 2026 page 122" href="https://secure.viewer.zmags.com/publication/2219f069?page=122"> COMMENT Now and Then... A legacy that lives on </a> <a title="TRBusiness February 2026 page 123" href="https://secure.viewer.zmags.com/publication/2219f069?page=123"> A Decade of Data-Driven Discovery For ten years,</a> <a title="TRBusiness February 2026 page 124" href="https://secure.viewer.zmags.com/publication/2219f069?page=124"> - ESTABLISHED 1997 - HELPING THE INDUSTRY GROW JA</a>