The recovery in the performance of IGD’s shopping centers continues
IGD – Immobiliare Grande Distribuzione SIIQ S.p.A., one of the main players in Italy’s retail real estate market and listed on Borsa Italiana’s STAR segment, announces that the footfalls in its Italian shopping centers continue to show continuous growth: in August 2020 almost 90% of the footfalls pre-lockdown was recovered (-12.7% compared to the same month 2019). More in detail, on the last day of the month, Monday, 31 August, the performance was basically in line with the prior year (-2.2%).
There was also a constant increase in footfalls week after week: compared to the footfalls recorded in the first week after the easing of the main restrictions (18-24 May), the number of people who decided to go shopping physically in IGD’s centers rose by +35%.
The traffic flows in the shopping centers are a strong indication as to the appeal of the Group’s assets in their respective catchment areas and encourage the Group to continue working with determination on the safety and health standards adopted for center shoppers and employees, on the quality of the retail offering and the communication with all its stakeholders. Toward this end, we would like to point out that to date roughly 99% of the businesses opened before the lockdown have resumed operation inside our shopping centers.