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MT 8 July 2018

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NEWS maltatoday | SUNDAY • 8 JULY 2018 MASSIMO COSTA MICHELLE Muscat yes- terday braved choppy sea conditions and jellyfish to swim the 12km stretch from Qawra to Ghadira Bay. The Prime Minister's wife's swimming challenge, Rock to Rock, has now become an an- nual event, raising money for charity. Muscat, who chairs the Mari- gold Foundation, took five and a half hours to complete the swim, which was two kilome- tres longer than last year's, and twice the distance she swam the year she started the challenge. The money raised from the event will be used for the Foun- dation to fund trips for 50 ath- letes to participate in next year's Special Olympics in Abu Dhabi, and to help other NGOs which work with people suffering from rare illnesses and mental health problems. Michelle Muscat braves choppy seas to complete 12km charity swim THE Maltese apparel retail in- dustry has grown to over €204 million in 2015, an increase of 3.5% over less than a decade. The data, published in finan- cial analysis summaries for list- ed companies in Malta, shows how large franchise companies which employ between 50 to 249 employees had the largest growth since 2008 – 10.6%, with total annual sales at €103 mil- lion in 2015. Malta's apparel retail industry has grown exponentially in re- cent years. In 2015, there were 15 outlets which individually accounted for workforces larger than 50 employees: on average these outlets made a turnover of €6.8 million. The majority of stores in Mal- ta, 530, employ less than nine employees, generating an aver- age turnover of €120,000. But these stores have been decreas- ing annually, down from 703 stores in 2008. In contrast, the number of out- lets in the large store category (50-249 employees) increased from eight outlets in 2008 to 15 outlets in 2015. A financial analysis sum- mary for United Finance plc published this week suggests that consumer spending has changed, with buyers showing a preference for larger stores. Maltese retail is experiencing an exponential growth also in terms of land usage: in 2017, a total floor area of 107,000sq.m was earmarked for some eight projects, apart from another 21,000sq.m in floor area yet to be realised at Smart City. All this comes on the back of de- velopments such as the Pama shopping village in Mosta and the Kiabi outlet on the former Burmarrad winery. Maltese spend €200 million on clothes each year

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