URM Reports Strong Q3 Performance in UK and Europe

  • 5.2% increase in tenant sales at Westfield’s UK centres
  • 3.9% increase in footfall at Westfield Stratford and Westfield London
  • European footfall up by 3.1%
  • Tenant sales in Europe outperformed national indices by +332 bps
  • Shopping centres turnover increased to £1.35bn (16.3% YoY)
  • UK shopping centres saw a 112% increase in gross rental income to £70.54m
  • US store estate up by 102% to £295.9m

Unibail-Rodamco, the owner of Westfield shopping centres, has reported a 5.2% increase in tenant sales at its UK properties during Q3, along with a spike in footfall. For the three months ending September 30th, URM saw a 3.9% increase in footfall at Westfield Stratford and Westfield London centres, while European footfall rose by 3.1%. The company stated that its European shopping centres outperformed the national sales indices by 332 basis points during August alone. In addition, for the nine months leading up to September’s end, Unibail-Rodamco reported a 16.3% year-over-year increase in shopping centre turnover to £1.35 billion. UK shopping centres experienced the most significant growth in gross rental income, jumping 112% to £70.54 million. The US store estate followed closely behind with a 102% increase to £295.9 million.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the performance of Unibail-Rodamco’s shopping centres, including specific numbers and comparisons to national sales indices.
Noise Level: 3
Noise Justification: The article provides relevant information about the performance of Unibail-Rodamco’s shopping centres and their financial results, but it lacks analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Westfield shopping centres, Unibail-Rodamco (URM), European retail sector
Financial Rating Justification: The article discusses financial performance of Westfield shopping centers and their owner Unibail-Rodamco, as well as the impact on the retail sector in Europe.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk