Kiwi Property reports December sales growth

WELLINGTON: Kiwi Property reported the December 2020 sales for its retail portfolio, including a 4.2% increase on the prior year. Specialty store sales grew 9.3%, while major retailers recorded a 6.5% year-on-year uplift.

Sales at Sylvia Park, New Zealand’s favourite shopping centre, were up 12.0% in December, compared to the same time the year before. The newly opened Level 1 expansion contributed to sales increases at both specialty stores (+20.7%) and major retailers (+20.1%).

Kiwi Property also provided a sales update for the December quarter. During the last three months of 2020, sales across the company’s shopping centres increased 6.1% on the prior comparable period, with specialty stores and major retailers up 9.5% and 8.0% respectively.

Linda Trainer, Kiwi Property GM Asset Management, said: “sales have remained strong at our retail portfolio since the COVID-19 lockdown last year, including standout Black Friday and December shopping periods.

“While the pandemic has had a significant impact on New Zealand’s retail sector, it’s great to see shoppers supporting their favourite brands and we look forward to that trend continuing in 2021.”

Kiwi Property is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index.

Kiwi Property is the highest rated New Zealand company within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of benchmark and tradable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the Real Estate Agents Act 2008. www.kp.co.nz

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