Israeli shopping mall proceeds down 3% in 2019

TLV Mall Photo: Alon Schneider

Mall proceeds were down 2% in the fourth quarter, but rebounded with a 6.2% gain in December.

2019 ended with a 3% drop in proceeds per square meter at shopping malls in Israel, compared with 2018, according to figures from Retail Information Systems Israel (RIS), which compared 2,700 same stores. The decline in sales at stores outside of shopping malls was a much more moderate 0.9%, continuing the pattern from last year.

According to RIS's figures, 51% of fashion stores posted a decline of up to 10% in sales, compared with 2018, while 40% of stores posted an increase of up to 10% in sales. 6.5% of fashion stores recorded decreases of over 10% in sales, while only 2.5% experienced growth of over 10%.

The trend in the fourth quarter was the same: a 2% fall at regional malls, compared with the fourth quarter of 2018, and a 1.9% increase in non-mall stores, compared with the corresponding quarter last year.

Another figure reported by RIS is positive results in December, which offset the November results. Sales at regional malls were up 6.2% and sales in non-mall stores grew 2% in December, compared with December 2018.

Published by Globes, Israel business news - en.globes.co.il - on January 6, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

TLV Mall Photo: Alon Schneider
TLV Mall Photo: Alon Schneider
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