Citycon announces tenant sales increase of 11 percent in July
CITYCON OYJ Corporate press Release 27 August 2020 at 08:00 hrs
Tenant sales for Citycon increased by 11% on a total basis for the month of July compared to the same month in 2019. On a same store basis, sales increased by 8% for the same period. The average transaction size grew by 15%. The growth in sales for the month impacted the January-July results which stand at -1% for total sales and -3% for same store sales respectively. At the same time, the footfall continued to recover and was at 95 percent of prior year level in July.
“Having already reported strong footfall and collection results, we are pleased to see tenant sales also being strong”, said CEO, F Scott Ball. “This is yet another validation of the strength of this necessity-based portfolio operating in the strongest urban hubs in the Nordic region. This also appears to reflect pent-up demand from the consumers. These community hubs are more important than ever to our customers”.
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Citycon is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic countries. The total value of the property portfolio managed by Citycon is approximately EUR 4.4 billion. Citycon is the leading shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
