Strong retail sales drive Nepi Rockcastle’s nine-month profit
CEO Rüdiger Dany says household income and consumer spend are holding up well, despite macro-economic challenges
16 November 2023 - 15:25
Nepi Rockcastle, the owner of premier shopping centres in Central and Eastern Europe (CEE), on Thursday reported a 23% increase in nine-month net operating income to €365m, driven by retail sales and acquisitions completed in 2022.
Like-for-like retail sales excluding hypermarkets were 14% higher due to increased footfall and average spend per visit of over 6%, the group said, adding that demand from international and regional retailers remains strong, with vacancies of 2.2%...
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