Financial Mail: How malls plan to keep the tills ringing
It’s no secret that shopping centre owners have had a horrible two years. Profits have been eroded on multiple fronts and led to the demise of Stuttafords, a brutal restructuring at Edcon, as well as closure of international stores including River Island, Topshop and Victoria’s Secret. All the while, utility costs and municipal rates are rising and electricity is intermittent. But it’s not all doom and gloom. Latest shopping centre performance metrics released by some JSE-listed mall owners suggest that many are using the downturn to boost flagging sales and footfall. Metope Investment Analyst Kelly Ward comments.