When Britain’s biggest shopping centre landlord Hammerson bought rival Intu last year, Hammerson chief executive David Atkins said the company would offer “crowd pleasing events” in its shopping centres.
But next week his company will instead be hoping to avoid relegation from the FTSE 100, because of a steady fall in its share price from a high of 547p in January to the 476p mark today.
Pessimism about “bricks and mortar” retailers – who are under pressure from the relentless rise of online shopping, a weakening pound that has raised the costs of stock and sluggish wage growth that is pushing down consumer spending – has continued to weigh on both Hammerson and Intu’s share prices.
