Landsec retail sites enjoy strong quarter, fashion and beauty both boom
Its properties include Bluewater Kent, Trinity Leeds and Liverpool One, among many other big-name malls. And it saw 'significant year-on-year increases in both sales and footfall" in the three months from April to June. This comes after Landsec experienced a record last financial year across its retail destinations.
It said the results 'reflect the success of the company's strategic approach to retail, prioritising top-performing centres and major retail destinations that offer something special to brands and shoppers alike'.
Total sales were up 8.1% across its major retail destinations (it didn't give a monetary figure), while footfall was up 4.8% – substantially outperforming the BRC benchmark of 2.3% in sales and the MRI benchmark of 1% in footfall over the same period.
Retail outlet destinations performed particularly well, with sales up 11.2% and footfall up 8.4% as shoppers prioritised the experience of shopping in outdoor retail villages. The popular Braintree Village in Essex saw a 14.9% year-on-year boost in sales across the period.
And it added that the recent box office recovery has highlighted 'growing consumer demand for shared, immersive experiences'. Within Landsec's retail destinations, cinema sales surged by 38% year-on-year in Q1, nearly double the national increase of 20%.
While the jury is still out on the overall impact of the recent heatwave UK-wide (reports have suggested both a rush to stores and an unwillingness to shop), Landsec said the sunniest Q1 in recorded history encouraged shoppers to refresh their wardrobes and treat themselves to health and beauty products. Clothing sales rose by 15.7% year-on-year, with fragrance, health and beauty close behind at 15.5%.
This strong growth has also been driven by continued investment from brands. New store openings across its destinations have pushed overall occupancy to nearly 97%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
France 24
6 hours ago
- France 24
Heathrow unveils £49 bn expansion plan for third runway
The runway would cost £21 billion, with flights expected to take off within a decade, while the rest of the privately-funded investment will go toward expanding and modernising the airport. Heathrow, Europe's busiest airport by passenger numbers, said the expansion would provide at least 30 new daily routes, more domestic connections and improved flight times. The increased capacity would almost double the number of annual passengers from 84 million currently to up to 150 million passengers annually. "It has never been more important or urgent to expand Heathrow," said chief executive Thomas Woldbye. "We are effectively operating at capacity to the detriment of trade and connectivity," he added. Despite fierce opposition from environmentalists and local residents, the London mayor Sadiq Khan and some Labour MPs, the Labour government backed the new runway in January in a bid to boost UK economic growth. It would be a rare expansion in Europe, where countries are split between efforts to reduce greenhouse gas emissions and the needs of a strategic sector that has seen demand grow. Heathrow has submitted its proposal for the 3,500 metre runway to the UK government, which has also invited a rival proposal. Green trade-offs Heathrow's proposal includes £12 billion to fund a new terminal and £15 billion for modernisation. "A third runway and supporting infrastructure can be ready within a decade, and the full investment across all terminals would take place over the coming decades," Heathrow said in a statement. UK Prime Minister Keir Starmer is determined to deliver major infrastructure projects to revive the UK economy that has struggled to take off since the party came to power a year ago. The government is expected to also back expansion at Gatwick airport, south of the capital, in October -- having recently approved upgrades to London's Stansted, Luton and City airports. Britain's Supreme Court ruled at the end of 2020 that Heathrow could build the third runway, overturning a legal decision to block construction on environmental grounds. Local residents "will see their lives put on hold for a few more years while more money and time is wasted on a doomed scheme," said Douglas Parr, policy director for Greenpeace UK. He added the plans "export more tourism wealth out of the UK in the most polluting way possible." Arora Group, one of Heathrow's largest landowners, on Thursday said it will submit a rival bid to build a shorter third runway, promising lower costs and less disruption to local residents and the environment. "This is the first time the government has invited a competing proposal for Heathrow expansion," the UK-based property and hotel firm said in a statement. Airport-owner Heathrow's latest investment proposal comes in addition to plans to invest £10 billion over the next five years in upgrades to boost passenger numbers, which would be largely funded by higher charges on airlines.
Sustainability Times
10 hours ago
- Sustainability Times
'Welcome to the Future of War' as BAE Systems Unveils Sixth-Generation Fighter Design and Triggers Alarming Debate Over AI Weapons and Global Arms Race
IN A NUTSHELL ✈️ BAE Systems has unveiled the Tempest, a sixth-generation fighter demonstrator, marking a pivotal advancement in military aviation. has unveiled the Tempest, a sixth-generation fighter demonstrator, marking a pivotal advancement in military aviation. 🔧 The Tempest showcases cutting-edge manufacturing techniques, including 3D printing and digital simulations , to enhance production efficiency and precision. and , to enhance production efficiency and precision. 🤖 Featuring AI integration and Loyal Wingman controls, the Tempest is designed for both manned and unmanned operations, offering adaptability in modern combat scenarios. and controls, the Tempest is designed for both manned and unmanned operations, offering adaptability in modern combat scenarios. 🌍 As a collaborative effort between the UK, Italy, and Japan, the project aims to reshape aerial warfare and strengthen industrial capabilities among the participating nations. The unveiling of the sixth-generation fighter demonstrator by BAE Systems marks a pivotal moment in military aviation. Developed under the Global Combat Air Programme by the UK, Italy, and Japan, this groundbreaking project, known as Tempest in the UK, is set to revolutionize air combat technology. With its operational debut expected in 2035, the demonstrator aims to replace the Typhoon Eurofighter and surpass the capabilities of the F-35 Lightning II. The journey to this point reflects an ambitious collaboration driven by cutting-edge technology and strategic foresight, promising to redefine the future of aerial warfare. The Evolution of Air Combat Technology BAE Systems' Tempest project is part of a broader effort to usher in a new era of air combat technology. As the first fighter to be constructed in Britain in over four decades, it symbolizes a significant leap forward in military aviation. The Tempest aims to incorporate innovative features that push the boundaries of what was once considered science fiction. This includes advanced stealth capabilities, modular design for quick upgrades, and integrated artificial intelligence and machine learning systems. Such features aim to enhance the aircraft's adaptability and effectiveness in diverse combat scenarios. Moreover, the Tempest's design emphasizes pilot-optional operation, allowing for both manned and unmanned missions. This flexibility is crucial in modern warfare, where quick adaptation to changing threat landscapes is vital. The aircraft's virtual cockpit and Loyal Wingman controls further underscore its role as a command and control hub for drone swarms. This modular approach not only enhances its operational capabilities but also ensures that it remains at the cutting edge of technology long after its initial deployment. This Toxic Nightmare Is Real: 27 Million Tons of Nanoplastics in North Atlantic Ignites War Between Green Activists and Industry Giants Innovative Manufacturing Processes The construction of the Tempest demonstrator showcases a suite of advanced manufacturing techniques that are pivotal to its success. BAE Systems has utilized digital manufacturing methods, including 3D printing for rapid prototyping and the simplification of components. These techniques allow for faster development cycles and reduced costs, enabling more efficient production. The use of digital twins and model-based systems engineering facilitates virtual simulations, ensuring that potential issues are identified and addressed early in the development process. Furthermore, the incorporation of cobotics—robots designed to work safely alongside human workers—enhances the manufacturing process by increasing precision and efficiency. This collaborative approach not only speeds up production but also improves safety standards in the workplace. Combined, these innovations are setting new benchmarks in aerospace manufacturing, promising to deliver an aircraft that is not only advanced but also cost-effective and reliable. 'This Is Deliberate Destruction': Hawai'i's Reefs Hit by Record Acid Surge as Locals Accuse Authorities of Sacrificing Ocean Life Challenges and Opportunities Ahead The path to developing the Tempest is fraught with both challenges and opportunities. One of the primary hurdles is ensuring that the aircraft meets the ambitious performance targets set by its developers. This includes achieving twice the payload capacity of the F-35A and the ability to conduct transatlantic missions without refueling. Meeting these goals requires not only technical prowess but also strategic collaboration among the participating countries. However, the potential rewards are significant. By spearheading this project, the UK, Italy, and Japan are positioning themselves at the forefront of military aviation. The Tempest program not only promises to deliver a state-of-the-art fighter but also aims to bolster industrial capabilities and workforce readiness. As Tony Godbold, Future Combat Air Systems Delivery Director at BAE Systems, noted, 'The program is accelerating the development of advanced design approaches and manufacturing techniques, helping to sharpen the UK's industrial edge and deliver benefits beyond the production of the aircraft.' 'This Proves We've Been Lied To': Alien-Like World Discovered Beneath Antarctica Fuels Explosive Rift Between Scientists and Truth-Seekers The Future of Aerial Warfare As the Tempest moves closer to its first flight, it represents a significant step forward in the evolution of aerial warfare. The demonstrator aircraft, expected to take to the skies in 2027, will play a crucial role in testing and refining the technologies that will define the production model. Its success will likely dictate the trajectory of future military aviation programs worldwide. With its advanced capabilities and innovative design, the Tempest is poised to shape the future of aerial combat. The integration of energy weapons and hypersonic launchers further enhances its strategic value, offering new possibilities for defense and deterrence. As the world watches the progress of this ambitious project, one must consider how these advancements will influence global military dynamics. How will the Tempest and similar programs redefine the balance of power in the skies, and what implications will this have for international security and cooperation? This article is based on verified sources and supported by editorial technologies. Did you like it? 4.3/5 (23)
France 24
2 days ago
- France 24
English cricket chiefs confirm sale of six Hundred franchises
The England and Wales Cricket Board expect a windfall of nearly £1 billion ($1.32 billion) from an auction of Hundred franchises, with the fifth edition of the 100 balls per side tournament due to start next week. Global investors, including four groups with links to the cash-rich Indian Premier League, have sunk vast sums of money into the competition's eight city-based teams. The 100-balls-a-side format, which features men's and women's sides, was launched to great fanfare in 2021. It has proved controversial, with many county cricket fans angry at the way the tournament deprives their clubs of key players at the height of the season. The Hundred has also squeezed a marquee five-match Test series such as England's ongoing clash with India into a congested seven-week schedule so it can have much of August to itself. But the ECB is confident that £520 million of new investment will eventually work its way into the game following a franchise auction earlier this year. The ECB confirmed Wednesday the sale of stakes in six teams has now been completed, but the 49 percent share of Oval Invincibles to Reliance Group, the creation of the wealthy Mumbai-based Ambani family, the owners of the IPL's Mumbai Indians -- has still to be finalised. And the joint takeover of the Trent Rockets by Cain International and Ares Management has yet to be completed as well, although the ECB said Wednesday that both deals "remain on track". But purchases for London Spirit, Birmingham Phoenix, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire have now been completed. "The Hundred has already played a vital role in growing cricket in England and Wales —- attracting new audiences, elevating the women's game and delivering high-quality entertainment," ECB chairman Richard Thompson said Wednesday. He added: "Crucially, this investment will not only fuel the competition's growth, but also channel transformative levels of funding into our professional counties and grassroots game." Three IPL ownership groups, out of a proposed four, have completed their takeovers, with the Sun Group taking full acquisition of Northern Superchargers.
