Property group Landsec reported a strong Golden Quarter performance, with its retail destinations outperforming the wider market as sales and footfall rose year on year.
The business said sales across its retail and hospitality portfolio increased 4.9% during the Golden Quarter, beating the national retail benchmark, which fell 0.2% over the same period.
During the three peak Christmas shopping weeks, sales were up 6.5% year on year.
Footfall across Landsec’s major shopping centres and outlet destinations also rose 0.7% during the quarter, compared with a national average decline of 0.3%, boosted by strong seasonal demand.
Landsec said the latest results continue a longer-term trend of outperformance. Since the 2022 financial year, sales across its retail destinations have grown by 20%, outperforming the UK national average.
In particular, health and beauty and clothing were the strongest-performing categories during the quarter.
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Health and beauty sales rose by 13%, while clothing sales increased by 5%, supported by investment in physical stores from major brands.
Landsec highlighted Sephora, noting that four of the beauty retailer’s six UK store openings over the past year have been in Landsec destinations.
However, leisure and hospitality have also supported growth, with sales up 6.2%. The company added that this category played a key role in increasing dwell time across its centres, ramping up its experience-led strategy.
“Consumers continue to seek out destinations which combine a wide selection of the best brands with best in class experiences,” said Landsec managing director Bruce Findlay.
“This was certainly true during the Golden Quarter with sales and footfall for prime retail once again ahead of the wider market.
“With a reach of one in four UK consumers, we offer brands more footfall than any other retail platform. By combining this reach with the powerful data insights available to us, we’re creating a self-reinforcing growth engine that delivers higher sales and attracts the world’s best brands.
Findlay added: “Alongside a strong leisure and hospitality offer, we provide compelling, experience-led retail environments, positioning us well for continued success as we look ahead to 2026.”
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