Citycon reports increase in tenant sales by 11% for the month of July

Citycon reports increased in Tenant sales by 11% for the month of July

(PRESS RELEASE) ESPOO, 27-Aug-2020 — /EuropaWire/ — Citycon announces an 11% increase in its tenant sales on a total basis for the month of July compared to the same month in 2019. Sales increased by 8% for the same period on a same store basis. The average transaction size grew by 15%. The growth in sales for the month impacted the January-July results which stand at -1% for total sales and -3% for same store sales respectively. At the same time, the footfall continued to recover and was at 95 percent of prior year level in July.

“Having already reported strong footfall and collection results, we are pleased to see tenant sales also being strong”, said CEO, F Scott Ball. “This is yet another validation of the strength of this necessity-based portfolio operating in the strongest urban hubs in the Nordic region. This also appears to reflect pent-up demand from the consumers. These community hubs are more important than ever to our customers”.

Media contact:

Tarja Parkkila, Communications Manager
Tel. +358 40 756 0545

Citycon is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic countries. The total value of the property portfolio managed by Citycon is approximately EUR 4.4 billion. Citycon is the leading shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.



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