Landsec retail destinations outperform national benchmarks during peak trading

London-based property developer and landlord Landsec has reported a robust performance for the 'Golden Quarter' festive period, with sales and footfall exceeding prior-year figures and significantly outperforming wider UK retail trends. Total sales across the group’s prime shopping destinations rose 4.9 percent year-over-year, contrasting with the British Retail Consortium (BRC) national benchmark, which recorded a 0.2 percent decline.

During the three peak Christmas trading weeks, sales momentum accelerated by 6.5 percent. Footfall across major shopping centres and outlets also remained resilient, increasing by 0.7 percent over the quarter, whereas the national market average saw a contraction of 0.3 percent.

Bruce Findlay, managing director of retail at Landsec, stated that consumers are increasingly gravitating toward destinations that offer a combination of premier brands and high-quality experiences. Findlay noted that the group currently reaches one in four UK consumers, providing brands with higher footfall than any other domestic retail platform.

The group’s experience-led strategy has contributed to a cumulative sales growth of 20 percent since fiscal year 2022, outperforming the national average by 17 percentage points over that period. Performance in the most recent quarter was led by the health and beauty and clothing sectors.

Health and beauty sales increased by 13 percent, supported by major brick and mortar investments from global brands. Notably, four of the six new UK stores opened by Sephora over the past 12 months are situated within Landsec destinations. Clothing category recorded a 5 percent increase in sales, driven by sustained consumer demand and leisure and hospitality segment grew by 6.2 percent.

By integrating this consumer reach with data-led insights, Landsec aims to maintain a "self-reinforcing growth engine" that continues to attract international brands.