Hammerson Q3 sales above pre-Covid levels as shoppers return to stores

British property giant Hammerson has reported third-quarter sales above 2019 levels as shoppers flocked back to physical stores following the end of lockdown restrictions.

Compared to pre-Covd levels in 2019, sales were up 4 percent in the UK, up 3 percent in France, and up 2 percent in Ireland.

The company, which owns Bullring shopping centre in Birmingham, said footfall was around 90 percent of 2019 levels, while spend per visit was around 4 percent above 2019 levels.

Rent collection levels to date are at 93 percent. Hammerson said it expects these levels to improve further by the full year.

Like-for-like gross rental income is up 11 percent.

Looking ahead, the company now expects FY22 adjusted earnings to be not less than 100 million pounds.