Outlet malls giant McArthurGlen said this week that it has seen record-breaking sales in 2024 with turnover growth of 7% year to date.

At retail event Mapic in Cannes, the company said it was enjoying consistent rises in both footfall and average spend per guest across its portfolio and has now seen 15 quarters of consecutive growth since the pandemic. 

The company has 24 centres across the UK, mainland Europe and Canada, and the 7% turnover rise comes after a double-digit increase last year. The latest rise was driven by 4% footfall growth and a 3% rise in average spend per visitor. 

Susie McCabe, co-CEO of McArthurGlen Group, said: “In a challenging economic environment which has seen a luxury slowdown and customers across all geographies making cutbacks on discretionary spending, we have continued to outperform the markets in which we operate. Achieving these consistently strong results despite such headwinds is a testament to the relevance of our proposition with consumers and the customer-led approach of our teams.” 

The company said rebounding tourism has helped it this year and its tax-free sales are up 13%, surpassing pre-pandemic levels. The company has seen a sharp increase in visitors from the Eastern Mediterranean region, for example Turkey, and a steady return of customers from Greater China, with other top nationalities including the Middle East, Southeast Asia and the US.

It all means the company is predicting total sales of almost €6 billion for its brand partners by the end of the year. 

The growth has also been helped by the arrival of new brands at its centres with 60 of them joining this year for a total of 350 new stores. Thos brands include Alexander McQueen, Aquazzura, Mason Garments, Forte_Forte, Aquascutum, Hoff, Goldbergh, Slowear, Sunspel, Pangaia and Marc Jacobs. 

The firm also has an active expansion pipeline that will see new phases in Canada, the UK, Spain, Italy, and The Netherlands.  

Designer Outlet West Midlands will see phases II and III – following the continued success of the centre’s first phase, which opened in 2021. The additional two phases, spanning 98,000 sq ft (9,100 sq m) in total, will add 50 new units to the centre. Once completed, the project will span 285,000 sq ft with 125 units over the three phases. The first stage of this new development, featuring an initial 25 stores, is scheduled to open in 2026. 

Vancouver Designer Outlet phase III will see a significant 65,000 sq ft (6,000 sq m) expansion that’s currently in planning, introducing 27 new luxury and premium stores. This phase is set to open in spring 2026. 

Designer Outlet Málaga’s phase II is a major 12,000 sq m expansion currently in planning and will introduce 70 new stores.  Designer Outlet Castel Romano’s phase IV is a 6,000 sq m expansion in planning, offering up to 35 new stores. And Designer Outlet Roosendaal’s phase III has been granted zoning approval for a potential expansion of up to 6,500 sq m.