Swire Properties links 'encouraging' sales to tenant mix revamp

Business | 9 Feb 2018 8:47 pm

Swire Properties (1972) said today sales at its malls have been encouraging and it was a direct result of efforts to revamp the tenant mix and engage customers.

In a trading update for the fourth quarter ended December 31, 2017, Swire Properties reported that retail sales grew by 7.2 percent at The Mall, Pacific Place, while sales fell by 3 percent at Cityplaza in Taikoo Shing.

At Pacific Place, the upward sales trend has continued for six quarters, with a significant improvement seen in the fourth quarter of 2017, the company said. This is largely attributable to the improvement in the tenant mix. The mall's Christmas campaign was very well-received by customers, Swire Properties said.

At Cityplaza in Taikoo Shing, sales continued to improve in the second half of 2017. Although affected by the closure of the cinema in 2017, the diverse trade mix led to strong domestic consumption, steady retail sales and stable traffic, Swire Properties said.

Over 20 new eateries and shops opened at Cityplaza in 2017, including lifestyle optical shop Zoff, Korean cosmetic label innisfree and trendy lifestyle label JC Shop. MOViE MOViE Cityplaza soft opened in late December. It features seven auditoriums.

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