Intu reports footfall growth as it awaits Hammerson decision

288
FTSE 100

Intu has revealed a strong boost in footfall over the Easter period, providing further evidence that consumers avoided the high street in favour shopping centres.

The shopping centre giant reportedly saw footfall rise seven per cent over the period to 2 million visitors.

Easter Sunday saw the most significant boost in footfall, jumping 10 per cent on the same period in 2017, adding to a 2.5 per cent footfall increase over the two-week period.

“Overall, these figures demonstrate the importance of prime retail and leisure destinations like ours, with customers wanting the very best choice of shops and brands under one roof, to enhance their all-important shopping experience,” operations director Gordon McKinnon said.

“Whatever the weather, our focus at this time of year is on delivering the best experience for all our customers, ensuring they leave their Intu centre happier than when they first arrived.”

This will come as good news to investors after its rival Hammerson put its prospective takeover of Intu on hold earlier this month.

After announcing a £3.4 billion takeover bid for Intu last year, Hammerson received a £4.9 billion takeover bid from Klépierre.

Though this takeover was initially denied, Hammerson has placed the acquisition of Intu on hold until Klépierre has made its position clear.

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