Sales at Multiplan's malls grow 6.8% in the 4th quarter of 2019

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Multiplan's results for the 4th quarter of 2019, released yesterday (Feb. 17), show an increase in sales and a higher occupancy rate of the group's shopping centers, in addition to an increase in rental revenue and a decrease in occupancy costs. Tenant sales grew 6.8% compared to 2018, reaching R$5.2 billion, a new record since the Company's IPO in 2007. For the year, sales totaled R$16.3 billion, up 5.4% over 2018. Black Friday sales rose 23% compared to the same date in the previous year, showing greater importance and popularization of the event. The Christmas season still predominates as the main retail event, with December accounting for almost half (45%) of total fourth quarter sales - against 30% in November and 25% in October. "With the increase in proportionality of the services, entertainment and food segments, we see a greater distribution of sales throughout the year. We also observed an increase in the relevance of Black Friday," says Armando...