What: Unibail-Rodamco-Westfield (URW) reported a strong first-half performance with increased tenant sales and rising Retail Media revenues.

Why it is important: URW's robust performance underscores the resilience of its shopping centers amid challenging market conditions, highlighting significant growth in Retail Media revenues and increased tenant sales, which outpaced footfall.

Unibail-Rodamco-Westfield (URW) announced a strong first-half performance, driven by a 4.2% increase in tenant sales and a 24.7% rise in Retail Media revenues, particularly from Westfield Rise. The company's like-for-like EBITDA grew by 5.8% to EUR 1.195 billion, with shopping center vacancies reduced and net rental income up 5.3%. URW’s growth was bolstered by dynamic leasing activity and significant sales performance across various sectors, including fitness, health & beauty, fashion, and food & beverage.

Unibail-Rodamco-Westfield reports strong H1 performance with rising tenant sales