(Reuters) – French shopping center operator Klépierre reported on Friday an 8.6% increase in its net rental income, as well as an 8% increase in attendance for the first nine months of the year. ‘year.
The group recorded a 14% increase in its food and beverage segment, driven by the Netherlands and Germany, its strongest performance in the retail sector during the period.
Klépierre, which rents commercial space across Europe, notably to Inditex, owner of Zara, H&M, and Sephora, recorded a 7% increase in sales year-on-year.
The group confirmed its forecasts for 2023, saying in a press release that it was “on track” to achieve a net current cash flow of at least 2.40 euros per share, a stable occupancy rate and retail sales at less equal to 2022.
JP Morgan analysts said last month they expected shopping center operators to be hit by macroeconomic turbulence in 2024, while a survey of more than 5,000 people across the Europe on the cost of living crisis reported a slowdown in non-essential spending.
Total revenue for the period was €1.0 billion, an increase from €992.0 million in the first nine months of 2022.
(Report by Stéphanie Hamel; by Mariana Abreu)
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