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Prices & Quotes - UK Markets - Hammerson (HMSO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 38.96p
Change Today:
0.090p
Market Cap:
1,580.72m
Sector:
Real Estate Investment Trusts

Hammerson says footfall surges as shoppers return

By Sean Farrell

Date: Friday 16 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Hammerson said footfall at its shopping centres was 60% higher than in the week after the first lockdown ended in June 2020 as shoppers returned to stores.
Non-essential shops were allowed to reopen in England and Wales on 12 April after three months, leading to queues outside some leading retailers. Struggling store groups and retail landlords are hoping for a spending splurge and a sustained recovery after a year of lockdowns.

Mark Bourgeois, Hammerson's managing director for the UK and Ireland, said: "It's been a really encouraging start. After an incredibly difficult year our teams have worked really impressively to get these places to be safe and welcoming for our brands and customers.

"In footfall terms we've been 60% up this week on the equivalent week after the June lockdown so clearly an encouraging number."

Bourgeois told the BBC's Today programme that shoppers felt safer because of the UK's successful vaccine programme and "there's more cash in people's pockets and they feel perhaps more confident to spend".

Hammerson's annual loss more than doubled in 2020 as rental income halved during the pandemic and it was forced to write down the value of its assets, which include Birmingham's Bullring and Brent Cross in London. Retail landlords have reduced rents and delayed collections to support struggling tenants with household names such as Debenhams and Topshop folding during the crisis.

"We are resetting our rents," Bourgeois said. "We reckon across the board in our business we'll probably reduce rents from the peak by about 30% so we're doing our bit, as are many landlords, to make sure we maintain our communities and maintain vibrancy in these centres."

Bourgeois said Hammerson was looking to "repurpose" space left by disappearing brands, including turning a Debenhams store in Leicester into 300 homes. Brands such as Samsung, Lego and Tesla are also looking for prime locations in city centres to show off their goods in physical stores.

"It's tough but certainly in the right locations and in these big experiential destinations the brands want to be there and we're encouraged by the conversations we're having."

Hammerson shares rose 1.6% to 39.84p at 09:19 BST.



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Hammerson Market Data

Currency UK Pounds
Price 38.96p
Change Today 0.090p
52 Week High 62.90p
52 Week Low 15.01p
Volume 11,496,548
Shares Issued 4,057.30m
Market Cap 1,580.72m
Beta 0.04

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 6
Sell 0
Strong Sell 7
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Hammerson Dividends

  Latest Previous
  Final Interim
Ex-Div 01-Apr-21 19-Nov-20
Paid 13-May-21 18-Dec-20
Amount 0.20p 0.20p

Trades for 07-May-2021

Time Volume / Share Price
16:35 2,256,757 @ 38.96p
16:29 999 @ 38.99p
16:29 2 @ 39.00p
16:29 6,000 @ 39.00p
16:29 6 @ 39.02p

Hammerson Key Personnel