Land Securities reports booming business at outlet malls
Published: 06 January, 2010
Land Securities has reported that its two British outlet malls - The galleria in Hatfield and Gunwharf Quays in Portsmouth - both saw a seven per cent increase in sales during the Christmas trading period.
Outlet malls traditionally fare less well when the high street is on Sale. However despite the flood of pre-Christmas promotions in mainstream retail destinations both of Land Securities’ outlets have fared well.
Gunwharf Quays also saw a 4.4 per cent increase in footfall over Christmas compared with 2009, with many retailers reporting record sales. The galleria saw spend per head up seven per cent and leisure sales up over eight per cent year on year for the fourth quarter.
Deepan Khiroya, retail portfolio director for Land Securities, said: “It’s clear that there remains a strong demand for the discounted high end goods the outlet sector provides. I’m confident the sector will remain buoyant in 2010.”
