Retail Giant On Track To Meet Forecast

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Wednesday, November 13th, 2013
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Westfield Group
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Shopping centre giant Westfield Group is on track to meet its income growth forecasts, despite no improvement in local retail conditions

Westfield said Australian retail conditions in the three months to September 30 remained consistent with prior periods, while sales by specialty retailers in the US and UK grew.

The company had 91 shopping centres in four countries at September 30, and more than $40 billion in annual sales.

Its centres were 97.9 per cent leased, up slightly from 12 months earlier.

Westfield expects operating income in 2013 to grow by between four and five per cent in the US and UK, and by between 1.5 per cent and two per cent in Australia and New Zealand.

 

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