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Pic: Shutterstock UAE conglomerate Majid Al Futtaim recently opened to visitors its 28th mall in the region, the Dhs2.6-billion City Centre Al Zahia in Sharjah. The retail hub includes 136,200 sq m of gross leasable space, and is the largest mall in the Northern Emirates. It will provide a mix of more than 360 brands. Its opening was delayed by a year due to the pandemic. “The only new super-regional mall to be launched in the Middle East and North Africa in the wake of Covid-19, City Centre Al Zahia is a testament to the resolve, commitment and optimistic spirit of Sharjah and the wider Northern Emirates,” said Shireen El Khatib, chief executive officer of Majid Al Futtaim Shopping Malls.
Lockdowns last year resulted in chains vanishing from the UK high street at an average rate of 48 stores per day. Data by accountancy firm PwC with the Local Data Company.
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US are expected to grow dramatically during the first half (H1) of 2021 as increased vaccination and continued in-store safety measures enable additional shopping options, according to the latest monthly Global Port Tracker report released by the
“NRF is forecasting what could turn out to be record retail sales growth in 2021, and retailers are importing huge amounts of merchandise to meet the demand,” NRF vice president for Supply Chain and Customs Policy Jonathan Gold said. “The supply chain slowdown we usually see after the holiday season never really happened this winter, and imports are already starting to grow again. Consumers haven’t let the pandemic stop them from shopping, and retailers are making sure their customers can find what they want and find it safely.”
L Brands, a US based fashion retailer of women s intimate and other apparel, has posted 8.3 per cent sales decline to $11.8 billion in its complete fiscal 2020 ended on January.
A wide array of economic indicators point toward potentially record retail sales growth during 2021, but the coronavirus pandemic remains the biggest challenge for the year,.