Xmas bag gave good turnover.

Posted On Monday, 10 February 2003 10:01 Published by
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South Africa's major retail centres experienced mixed blessings over the 2002 Christmas season.

South Africa's major retail centres experienced mixed blessings over the 2002 Christmas season. While centres like Canal Walk in Cape Town seem unstoppable with over 30% growth for a third year in a row, others reported rather more lacklustre trade, according to the latest Rode & Associates property newsletter.

In Pretoria, Menlyn Park Shopping Centre reported a total turnover
for December 2002 up 1% on 2001, while trading densities for December
2002 were up 13,89% on 2001, says manager Wayne Ableggen.

Canal Walk general manager Mickey Radowsky says shopper traffic was
up 8% in December, and preliminary figures indicate that turnover
will be up 30% on last year. 'Most tenants performed well - the
performance was good across the board for all retail classes,' he

The Canal Walk centre's turnover for the Christmas season is
estimated to be in the region of R245-million to R250-million, which
adds up to a monthly trading density of R2,35-million, compared to
November's R1 330/m.

November was up 30,5% on the same month last year too, says Radowsky.
'Our tenants are starting to find their feet. The experiments are
over, weaker tenants have dropped out, and better ones are moving in.
Besides, we're no longer a new centre, and customers are no longer
just browsing. They come here with a purpose: to buy.'

Durban's Pavillion centre had a very satisfactory Christmas, says new
general manager Preston Gaddy. 'While foot traffic was marginally
down on December 2001, our overall turnover for December 2002 was up
13%. The major tenants improved by over 10% and line shops by 15,9%.

There were marked improvements in particular categories such as
fashion for men and ladies. All recorded improvement of about 20%.'
Also in Durban, the Gateway Theatre of Shopping was quieter up to 20
December, but trade picked up during the last 10 days of the year,
says manager Michael Rodel.

Publisher: The Star
Source: The Star

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