the administrator of malls high standard Iguatemi reported this Wednesday (13) that sales by its tenants in the second quarter totaled R$ 4.3 billion, a record for the period, a growth of 30.2% compared to the same period in 2019.
The “same-store sales” indicator – which analyzes sales decline or increase in existing establishments compared to a previous period – rose 31% from April to the end of June compared to the same three months in 2019.
The company did not provide comparisons with the second quarter of 2021.
“The resumption of sales linked to savings in the condominium continues to bring space for the withdrawal of discounts, without impacting indicators such as occupancy cost and net delinquency, which were below the second quarter of 2019”, said Iguatemi in the preview of the results for the period.
Last week, rival Multiplan reported that total sales at the company’s malls in the second quarter rose 28.8% over the same period in 2019 and 64.5% from April to June last year, to R$4. .9 billion, a record for the quarter.
According to Iguatemi, “the recovery of sales, added to the efforts to contain condominium costs, made us return to our historical occupancy costs, which allowed us not only to increase the collection of current rents, but also to receive past rents, reflecting a negative delinquency rate of 2.3% in the quarter”.
Iguatemi’s units ended the day down 1.9%, while Multiplan’s shares rose 1.1%. The Ibovespa closed down 0.4%.
Source: CNN Brasil
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