THE SHOP•PARK RETAIL FORMAT CONFIRMS ITS RELEVANCE:
FOOTFALL AND RETAILER SALES ACCELERATING,
OCCUPANCY ABOVE 98%,
2026 TARGETS CONFIRMED
The Shop•Park model is capturing recently observed changes in consumption patterns. By addressing households’ purchasing power constraints, it is enabling Mercialys to accelerate its growth by sustainably gaining market share. At end-September 2026, this momentum is reflected in improved performance across all operating indicators.
- Footfall up +5.4%[1] over nine months on a like-for-like basis, i.e. +420 basis points above the national panel[2], confirming continued market share gains;
- Retailer sales up +3.0%[3] year-to-date, accelerating compared with the first half and above the national trend (+0.2%). With household consumption growing only modestly (+0.3% est.[4]), Mercialys’ performance reflects its ability to also gain market share in value terms, thanks to a tenant mix focused on Everyday-low-price offerings perfectly meeting households’ expectations;
- Invoiced rents up +2.5% over nine months to €137.5 million, with organic growth of +2.3%, in line with the first half, i.e. 230 basis points above indexation (zero over nine months);
- Reversion of +2.1% on leases signed (12-month rolling basis), supported by an occupancy cost ratio among the lowest in the listed sector (11.1% at end-June);
- Financial occupancy rate improved to 98.2%, among the highest in the sector;
- Projects progressing in line with plan: project capex of around €100 million over 2026-2028 is being phased in line with the plan, ultimately generating €10 million in additional rents;
- Recognized non-financial performance: record GRESB score of 93/100, Green Star status confirmed for the 10th consecutive year and inclusion in the CDP Climate “A List”.
2026 TARGETS CONFIRMED
- Full-year RNR per share target of between €1.30 and €1.32
- Target dividend of at least €1.02 per share.
[1] Scope covering sites representing more than 85% of the total value of Mercialys’ portfolio
[2] Quantaflow national panel covering 345 retail sites in France
[3] Excluding retailers in liquidation or receivership
[4] Macroeconomic projections - Banque de France - September 15, 2026
