What: Unibail-Rodamco-Westfield (URW) has reported a 1.9% increase in sales for the first nine months of 2023, amounting to EUR 2.78 billion.

Why it is important: The first nine months' results were a record increase, and the company raised its financial targets for the full year, indicating positive growth and potential profitability.

Footfall in URW's shopping centres increased by 6.3%, while retail sales grew by 7.9%, surpassing the period's inflation rate of 5.6%. URW aims for a recurring earnings per share of at least EUR 9.50, up from the previously expected range of EUR 9.30 to EUR 9.50. The group continues to focus on reducing its debt and repositioning its presence in major European cities.

URW releases impressive Q3 results