Canal Walk turnover soars 25%

Posted On Monday, 04 March 2002 14:01 Published by
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CANAL WALK, which is rapidly establishing itself as the premier retail centre in the Western Cape, is showing year on year growth of approximately 25%.
CANAL WALK, which is rapidly establishing itself as the premier retail centre in the Western Cape, is showing year on year growth of approximately 25%.
General Manager, Mickey Radowsky, said the shopping centre had experienced a bumper December trading period which exceeded all expectations. The total tenant turnover for the month had been in excess of R190m, against R154m the previous year.

'This was exceptional particularly given the hype around the opening the previous December.

'And this improved performance has continued through this year. We still have some outstanding figures to collect, but all indications are that the total tenant turnover for January will be up 25% on January 2001 and early indications for February, which is normally the quietest retail month of the year, are that this extremely positive trend has continued.

'These are the kind of numbers I would only have expected in our third year and so we are as pleased as punch. These wonderful figures have filtered through into the retail market place and we are receiving many inquiries from retailers and food operators who had previously adopted a wait-and-see approach to Canal Walk.'

Radowsky said the strong performance had been seen across all categories with the majority of traders reporting strong growth.

He said that at over two million visitors, the footfall for December was just short of December 2000 but the per capita spend increased by more than 25%.

'The foot traffic through the shopping centre in January was up at over 1,4 million against 1,37 million the previous January with per capita spend also showing an improvement of 25%.'

Radowsky said there was no doubt that the large number of domestic and foreign tourists through the centre in the past there months, particularly in February with many tenants reporting up to 50% of sales to tourists, has contributed to this exceptional growth.

'The foot traffic for February is up 12,5% on the corresponding month last year and we have little doubt that the per capita spend for February will continue on this positive trend assisted by the large number of tourists through the centre during the month.

'We have had overwhelmingly positive feedback from tourists who have been impressed not only with Canal Walk's fabulous architecture, its size and its ease of access but most importantly with the huge variety of merchandise and entertainment on offer.'

Radowsky said they now had a marvelous platform from which to build and strengthen the shopping centre.

'Canal Walk attracted close to 16 million visitors in its first year of operation achieving a total tenant turnover in excess of R1billion. The strong trading over the past months is putting us well on track to meet our turnover target of R1,3 billion for our second year of operation,' he said.

Publisher: Cape Business News
Source: Cape Business News

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