Credit: NEINVER
Retail | Ticker

NEINVER is back to pre-COVID levels

The leading Outlet Operator in Spain and Portugal and the second-largest Operator in Europe, has announced a steady recovery at its Outlet Business in 2021.

NEINVER is back on track. The company has announced a steady recovery at its outlet business in 2021, particularly during the second half of the year as restrictions began to ease. The outlet operator is the second-largest operator in Europe and the leading outlet operator in Spain and Poland. 

According to the company, NEINVER recorded over 909 million Euro in brand sales across its 17-centre outlet portfolio. This is a 24 percent like-for-like increase on 2020. The outlets welcomed more than 35 million visitors over the course of the year, a 16 % like-for-like increase. 

In H2 2021, footfall stood at just 88 % of the equivalent pre-pandemic period in 2019, whereas brand sales across the outlet portfolio slightly outperformed 2019 levels thanks to a strong recovery of sales in Q3 (+3 percent on Q3 2019), confirming the improved momentum. The fact that retail turnover has produced like-for-like growth during this period, despite lower footfall, further demonstrates the high sales conversion rates and an increase in basket size.

“Reaching pre-COVID sales levels during the second half of the year fills us with optimism, and it is a clear indication of the strength of our business. Our agility and extensive specialised expertise have played a key role in maximising our results, despite the continued restrictions”, said Carlos González, NEINVER Managing Director.

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