NEINVER centers' sales rise 13% to €352 million (EU)

In the first six months of 2012, NEINVER saw its sales figures and foot traffic rise at the 14 outlet centers the company manages throughout Europe. Sales at its centers reached €352 million, up 13% from the same period in 2011, and the total number of visits grew by 11% to 16.3 million.

Despite an environment marked by an overall drop in consumption in much of Europe, NEINVER centers' key indicators improved in almost all markets where the company does business, thus consolidating its position in the international market.

Earnings were particularly solid in Poland and Portugal, where sales rose by 27% and 7.6% respectively, and foot traffic increased by 33% and 13%, respectively, compared to the first six months of 2011. In Poland these results reflect, among other factors, the opening of a new centre in Krakow; and in Portugal, they reflect the revitalization of the Vila do Conde centre through greater interaction with shoppers and an improved mix of stores.

"Geographic diversification, a stronger business model and revitalization of the outlet concept through our active management are some factors that contribute to our figures' ongoing growth in Europe. The results from this first half of the year reinforce the company's commitment to specializing in the outlet sector, and they boost our prospects of becoming the leading operator in Europe", explains Jorge Sanchez, NEINVER's Retail Director.

Data by market
The good foot traffic and sales performance, along with the centers' average conversion rate of 98%, confirm NEINVER as an international benchmark company in the management of outlet centers.

In Germany, from January to June, Zweibrücken The Style Outlets bolstered its foot traffic to 1.5 million people and increased sales by 6%.

In Spain, the results were also significantly positive in these first six months of the year. Despite the difficult situation in the market, characterized by a sharp drop in both foot traffic and consumption, the 5 centers that NEINVER manages in A Coruña, Madrid and Seville showed sales volume 10% higher than in the same period in 2011. The number of visits rose by 3% to 5.5 million customers.

In Italy the indicators stayed practically flat at 3 million visitors. Also, the total sales from January to June at the two centers NEINVER manages in the country, have not either registered significant changes.

Poland, one of NEINVER's most solid markets, recorded the company's strongest growth. From January to June 2012, the four FACTORY centers it manages in that country increased their sales by 27% and foot traffic by 33%, to 4.3 million visits. The usual smooth operation of the centers in Poland was augmented by the addition of the new FACTORY Krakow centre to the NEINVER portfolio in the third quarter of 2011.

Lastly, in Portugal, Vila do Conde The Style Outlets recorded 7.6% higher sales than in 2011, and the number of visits rose by 13% in these first six months of the year, to 1.7 million.

One highlight in these first six months of 2012 was the opening of Roppenheim The Style Outlets, the Group's first centre in France. After adding this to its asset portfolio, NEINVER now manages 14 centers, 293,000 m² of GLA (gross leasable area) and 1,600 shop locations.

Roppenheim The Style Outlets had its grand opening in late April and since then its performance has been excellent. In the first two months alone it welcomed half a million visitors.

Source: Neinver

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