Westfield shopping centres managed by Scentre Group – of which there are 42 across Australia and New Zealand – recorded more than $30 billion in sales in just one year.
Adding 4.9 million visitors in a year to reach 160 million, Scentre Group said it is keeping its positive forecast, while acknowledging the “geopolitical volatility” of the current day.
“Our strategy to grow the economic activity that occurs at each of our destinations continues to deliver, with customer visitation growing across all regions,” Scentre Group CEO Elliott Rusanow said.
Managing seven of Australia’s 10 busiest shopping centres, and four out of five in New Zealand, Scentre Group said its sales for the year ending March 31 rose by 5 per cent on the year prior.
All states and New Zealand saw growth, with WA leading the way at 7.4 per cent.
The fastest-growing named product category was health and beauty, at 9.1 per cent. Footwear sales declined by 3.17 per cent across the group’s portfolio.
Rusanow said retail space across Westfield locations remained in high demand, with an occupancy rate of 99.8 per cent at the end of the year.
Scentre Group said it completed 636 leasing deals over the period. It added that work on its $240 million redevelopment of Westfield Bondi is progressing.
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