Friday, August 19, 2022

McArthurGlen records all-time high of £3.4bn in sales

Sales at McArthurGlen jumped to €4 billion (£3.4 billion) in its latest financial year, a record for the outlet shopping centre owner.

Total sales at brand partner stores in the company‘s 22 designer outlet centres in Europe and Canada were up by 13 per cent year-on-year, while like-for-like sales across rose by 10 per cent.

The group is regarded as Europe‘s biggest owner, developer and manager of designer outlet centres, with a 23rd centre set to open in Provence in the south of France.

In the UK, where its headquarters are based in London, McArthurGlen operates six outlet centres, including the Ashford Designer Outlet in Kent which is currently being expanded.

“Our three-pronged approach of organic growth, new development, and acquisition is paying dividends,” chief executive Julia Calabrese said.

“Our newly acquired centre in Ochtrup [north-west Germany] performed exceptionally well. We are 75 per cent leased in Provence, our first south of France designer outlet, and we have also just seen record weekend footfall at our flagship designer outlet Serravalle, near Milan.”

Click here to sign up to Retail Gazette’s free daily email newsletter



Please enter your comment!
Please enter your name here