McArthurGlen achieves record annual sales growth
Designer outlet operator McArthurGlen has reported a record annual sales increase to €4 billion across its portfolio of 22 shopping centres. It has also achieved 12 months of continuous year-on-year sales growth.
Total sales in 2015-2016 across the brand partner stores in McArthurGlen’s centres rose by 13% and by 10% on a like-for-like basis.
Julia Calabrese, chief executive of McArthurGlen Group, said: “Our three-pronged approach of organic growth, new development, and acquisition is paying dividends. Our newly-acquired centre Ochtrup performed exceptionally well. We are 75% leased in Provence, our first south of France designer outlet, and excited about beginning construction on McArthurGlen Málaga in 2017. We have also just seen record weekend footfall at our flagship designer outlet Serravalle, near Milan.
“With our growing portfolio we expect the coming years to bring innovative and collaborative ways for the group to evolve the consumer-outlet experience.”
McArthurGlen is currently in the middle of a large scale expansion programme that will see its total retail space increase from the current 600,000 square metres to nearly 900,000 square metres by 2020. This will include the opening of six new designer outlets in five countries and the expansion of eight of its existing centres.
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