Unibail-Rodamco-Westfield Reports H1-2023 Earnings
Retrieved on:
Thursday, July 27, 2023
Lightwell, Westfield Valencia Town Center, Westfield Mission Valley, URW, Health Beauty Life, Collection, SBR, Loan, GBP, IRR, ICR, Trinity, F&B, Rotation, Policy, USD, LTV, NOI, Retail media, US Regional Arts Organizations, Luxury, Health, Brisbane Convention & Exhibition Centre, Carbon, Better, Triangle, CBD, Montparnasse, Calendar, Tenant, COVID, IRI, Sale, TIC, MGR, Exchange offer, GMV, Tourism, Airline, Beauty salon, Commercial property, Renting, Cryptocurrency, Video game, Real estate, Security (finance), Casino, Renewable energy, Nightclub, Bank, Fitness, Westfield Brandon, Westfield Stratford City, Inditex, Entertainment
In the US, Flagships tenant sales12 were up +4.6% in H1-2023, performing above the US National Sales index, which was up 4.3%11.
Key Points:
- In the US, Flagships tenant sales12 were up +4.6% in H1-2023, performing above the US National Sales index, which was up 4.3%11.
- Fashion sales decreased slightly by -2.0% and Luxury by -6.8% but both remained above 2019 levels (+14.0% and +87.9% respectively).
- URW continued to collect 2022 rents, leading to an improvement of 2022 rent collection from 97% to 98% between FY-2022 and H1-2023.
- The proportion of long-term deals signed also increased from 74% of MGR signed in H1-2022 to 78% in H1-2023.