This article is from the Australian Property Journal archive
WESTFIELD Corporation has unveiled tepid results for the March quarter.
Annual specialty retail sale were flat for the three months at US$725psf, and up 4.4% for the 12 months to March.
The food retail, fashion and general retail categories in its flagship centres reported growth in the quarter of 3.6%, 2.6% and 2.5% respectively, whilst leisure and jewellery dipped 1.3% and 3.3%, although all categories recorded positive growth over the 12 month period.
Leisure was down 7.2% over the quarter at its regional centres, and fashion down 3.6%.
Flagship sales productivity increased 1.8% in the quarter to US$905psf, and up 6.3% over 12 months.
Occupancy levels were up slightly, by 0.2% from last year to 94.5%, although the flagship portfolio was down 0.7% down from last year to 95.3%.
Australian Property Journal
