Property giant Landsec sees retail destination sales ‘outperform market’ over peak

The group reported that both sales and footfall increased across prime shopping destinations, exceeding last year’s figures to surpass market averages.

Golden quarter sales increased 4.9% year on year and over the three peak Christmas shopping weeks, sales grew 6.5% year on year. Landsec outperformed the national retail benchmark, which fell by 0.2%.

Footfall across its major shopping centres and outlets inched up 0.7% over the quarter, compared with a decline of 0.3% across the wider market. 

Landsec said the performance reflects a trend in its retail destinations in recent years, as sales have grown 20% since the full year 2022.

Driving some of that growth has been health and beauty and clothing. Customer demand has been strong and there have been continued investments from brands. Sephora has opened four out of six of its new stores in the last year in Landsec destinations.

Overall, this quarter, health and beauty increased sales by 13% and clothing grew 5%.

Leisure and hospitality sales also rose 6.2%, with this category key for increasing dwell times and reinforcing Landsec’s experience-led strategy to support retail spend and repeat visits.

Landsec managing director Bruce Findlay said: “Consumers continue to seek out destinations which combine a wide selection of the best brands with best-in-class experiences. This was certainly true during the golden quarter, with sales and footfall for prime retail once again ahead of the wider market. 

“With a reach of one in four UK consumers, we offer brands more footfall than any other retail platform. By combining this reach with the powerful data insights available to us, we’re creating a self-reinforcing growth engine that delivers higher sales and attracts the world’s best brands.

“Alongside a strong leisure and hospitality offer, we provide compelling, experience-led retail environments, positioning us well for continued success as we look ahead to 2026.”