Pages

Thursday, 2 May 2013

Strong Performance for The Exchange




Strong Performance for The Exchange
Nottingham’s premier shopping centre, The Exchange, continues to perform strongly according to recent trading data for the first quarter of 2013.
The centre’s three new stores are returning consistently good results, with Dr Martens up an impressive 45% on target and Patisserie Valerie regularly exceeding expectations. Castle Fine Art, whilst not entirely new to the scheme, have changed their profile significantly with the opening of their new gallery, which has had an immediate impact according to Gallery Manager Victoria Lawson.
“The new gallery is much larger than our previous store,” she commented, “with more space to display works and offering a better viewing environment overall. The store’s new position within the arcade, along with the access from South Parade has had a major effect on footfall into the gallery, unquestionably resulting in more sales.”
The Exchange’s established stores are also performing well, with Karen Millen, Jaeger, Austin Reed and Oasis 10% - 15% up on target for the period.
The Exchange Centre Manager, Neil Fincham added, “While footfall has remained fairly level over the first quarter as a whole, it’s notable that many of our stores are reporting increases in their average transaction value. It’s encouraging that, even in difficult market conditions, The Exchange is proving a popular destination for shoppers which I would expect to improve heading into the summer months.”
The Exchange is the oldest shopping centre in Nottingham, having an unbroken history of retailing in the city since it was opened in 1929. As it approaches its 85th year, plans are in place to implement a wholesale refurbishment of the main arcade’s stone floor, which will return it to its original state.
Mr Fincham added, “This is a significant investment in the long-term future of the centre, befitting its Grade ll* listed status. The refurbishment of the floor can only enhance the overall environment within the centre, and I’m sure will be much appreciated by tenants and customers alike.”