The leading outlet operator in Spain and Portugal and the second-largest operator in Europe, has announced a steady recovery at its outlet business in 2021.
The company recorded over €909M in brand sales across its 17-centre outlet portfolio, a 24 per cent like-for-like increase on 2020 and welcomed more than 35 million visitors over the course of the year, a 16 per cent like-for-like increase.
In H2 2021, footfall stood at just 88 per cent of the equivalent pre-pandemic period in 2019, whereas brand sales across the outlet portfolio slightly outperformed 2019 levels thanks to a strong recovery of sales in Q3 (+3 per cent on Q3 2019), confirming the improved momentum. The fact that retail turnover has produced like-for-like growth during this period, despite lower footfall, further demonstrates the high sales conversion rates and increase in basket size.
“Reaching pre-COVID levels during the second half of the year fills us with optimism and is a clear indication of the strength of our business. Our agility and extensive specialist expertise have played a key role in maximising our results, despite the continued restrictions”, said Carlos González, NEINVER Managing Director.
