Brazil’s shopping malls in September jumped 7.7 percent over the same period last year, boosting expectations that the industry will end 2018 with a growth of about 6 percent, the entity that represents the sector, Abrasce.
“The second half is the strongest in terms of sales to the industry,” said Glauco Humai, president of the association, Glauco Humai, in a press release.
In the year to September, the country’s malls sold 4.2 percent more compared to the same period in 2017, the survey showed.
Two weeks ago, high-end shopping mall administrator Multiplan reported that it posted a 7 percent rise in third-quarter sales over a year earlier to 3.6 billion reais. Iguatemi had growth of 4.8 percent in the concept tables and BR Malls is expected to release its data late on Tuesday after the markets close.
Regionally, the South and Central-West had higher growth than the national average in sales, with increases of 8.9 and 8.5 percent, respectively, followed by Southeast (+7.5 percent), Northeast (+7.2 percent) and North (6.6 percent).
In September, the categories that stood out most in sales were household items (+18.46 percent), telephony (+12.27 percent) and perfumery (+11.69 percent).
The performance of shopping centers in the period exceeded the 4.7 percent increase in street store sales, as measured by the Cielo Index, the association said.