Retail sales at Westfield malls have bounced higher, by an inflation-beating 15.6 per cent in the September quarter on their pre-pandemic levels, as cashed-up shoppers are confident enough to keep on spending.
The third quarter trading update from ASX-listed Scentre, the owner and manager of 42 Westfield malls around the country, is the first from its new chief executive, former chief financial officer Elliott Rusanow, who said the surge in sales figures augurs well for festive season trading.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
