Shopping malls are beginning a slow revival. That’s the message from Unibail-Rodamco-Westfield , which on Thursday said it expects customer visits and rent agreements to return to pre-pandemic levels this year. The $13 billion owner of shopping centres including the Forum des Halles in Paris said it collected 88% of the rent it was owed in the second half of last year, up from 80% in 2020. Unibail shares rose 7% on Thursday morning.
it expects customer visits and rent agreements to return to pre-pandemic levels this year. The $13 billion owner of shopping centres including the Forum des Halles in Paris said it collected 88% of the rent it was owed in the second half of last year, up from 80% in 2020. Unibail shares rose 7% on Thursday morning.
Chief Executive Jean-Marie Tritant’s bet is paying off. He was promoted last November after activist investors including French billionaire Xavier Niel blocked a planned rights issue. Their desire to focus on Europe looks prescient: the value of Unibail’s American malls fell 8% last year, while European assets were down 1%. Investors, however, still need convincing.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woman dies after falling from mall parking structure during apparent motorcycle lessonA woman, who was reportedly learning how to ride a motorcycle, fell off a three-story parking structure at a mall in Los Angeles.
Read more »
Woman dies after falling from mall parking structure during apparent motorcycle lessonA woman, who was reportedly learning how to ride a motorcycle, fell off a three-story parking structure at a mall in Los Angeles.
Read more »
Breakingviews - Continental dangles an autonomous carrotFresh from spinning off its engines unit Vitesco Technologies , German car supplier Continental is now considering a partial listing of its autonomous driving unit in 2023 or later, Handelsblatt reports . After a grueling pandemic, which saw revenue fall 15% in 2020, shareholders could expect at least a modest bump.
Read more »
Breakingviews - Harley-Davidson hitches a turnaround rideHarley-Davidson is going with the traffic, and staying a nose ahead. The 119-year-old U.S. motorcycle manufacturer’s retail motorcycle sales rose in 2021 for the first time in seven years, it said on Tuesday, as the company returned to an operating profit after last year’s loss.
Read more »
Breakingviews - China biotech has moving U.S. target on the backPharmaceutical company WuXi Biologics plunged 23% on Tuesday after Washington added it and 32 other Chinese groups to a list that would make U.S. imports of components like bioreactors much more painful. The $34 billion contract drugmaker rushed to explain out of fears over its heavy U.S. exposure as bilateral ties sour.
Read more »
Shiba Inu Leads Weekly Altcoin Rally with 57% Growth as Matic and Ethereum FollowMarket is slowly recovering as assets like Shiba Inu, Matic and Ethereum move up
Read more »