RIO DE JANEIRO, Oct. 19 /PRNewswire-FirstCall/ -- BR MALLS Participacoes S.A. (Bovespa: BRML3), the largest shopping mall company in Brazil, announces its preliminary tenant sales and rent results, as well as the occupancy and late payment (30 days) levels for the third quarter of 2010 (3Q10).
BRMALLS SHOPPING MALLS RECORD TOTAL 3Q10 SALES OF R$ 3.1 BILLION
Consolidated sales volume totaled R$ 3.1 billion in this quarter, a 19.7% increase over the third quarter of 2009.
SAME STORE SALES GROWTH REACHED RECORD LEVEL IN BRMALLS' HISTORY, INCREASING 16.6% IN 3Q10
In this quarter, the Company's same store sales growth reached its highest level ever, increasing 16.6% over 3Q09, when same store sales growth was 5.1%.
The same store sales growth was pushed by the satellite stores and leisure growth, which grew 17.5% and 28.1% respectively. The anchor stores same store sales also presented excellent growth, increasing 11.9% over 3Q09.
SAME STORE RENT INCREASES 10.1% IN 3Q10
In this quarter, same store rent presented a significant increase, reaching 10.1% over 8.0% in 2Q10.
IN 3Q10 WE REACHED RECORD OCCUPANCY RATE FOR THE SECOND TIME THIS YEAR
For the second time in 2010 we reached record occupancy level in our portfolio, reaching an average of 98.5% of total GLA in 3Q10. By the end of this quarter, among the 36 malls of our portfolio, 20 presented occupancy rates above 99%.
In 3Q10 we also reached the lowest level of late payments (30 days) in the Company's history, 2.7% over 3.1% in 3Q9.
BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 38 malls, comprising 1,131.8 thousand m(2) of GLA and 533.4 thousand m(2) of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.
SOURCE BR MALLS Participacoes S.A.