The company’s six shopping malls grew 32.8% over the same period last year and 37% compared to the pre-pandemic period
2022 continues at a growth pace for Almeida Junior’s six shopping malls. The company broke sales records in April and May. The preliminary Operational Performance, which has just been released with preliminary data, shows an increase of 32.8% compared to the same months last year and 37% compared to April and May 2019, the pre-pandemic period.
For the five-month cumulative 2022, retailer sales at Almeida Junior’s shopping malls achieved 37.5% growth over the same period in 2021 and 24.8% over pre-pandemic 2019 levels. The good pace continues in June. In the first half of the month, considering only retailers sales that have already reported results for the period, a 21.3% gain was recorded compared to 2021 and 35.1% compared to 2019.
“The good result was verified in all six shopping malls of the Almeida Junior Group. We have an extremely positive feeling about the continuity of this sales growth for the coming quarters, which is driven by the continued qualification of the store mix, by the resumption of events in the malls, and by the increased attractiveness to qualified consumers,” says the company’s CEO, Jaimes Almeida Junior.
Sector-specific indicators also reflect the good momentum. The SSS (same store sales) for April and May this year showed a gain of 26.7% over 2021 and 33.2% over 2019. And the SSR (same store rentals) of 24.1% over last year and 41.8% over 2019.
Even with the passing on of inflation and rent increases, Almeida Junior’s portfolio of shopping malls demonstrated resilience and has a competitive occupancy cost for retailers, closing the months of April and May at 9.6%. “This indicator is directly driven by the constant search for efficient management processes,” adds Jaimes. The net default rate over total rental income closed the months of April and May at -0.1%, the lowest rate in recent years.
