Comparable fashion sales growth across Stockland’s town centres was relatively flat (up 0.3 per cent) in the first quarter of FY26 compared to the same period last financial year.
This is according to Stockland’s latest trading update, shared to the Australian Securities Exchange. These comp sales exclude assets which have been redeveloped within the past 24 months, particularly Stockland Piccadilly in New South Wales.
The moving annual total (MAT) in apparel to September 30 this year was $383 million, which is up 0.9 per cent on the prior period. The apparel category, which is one of the largest by value across specialty categories, had the lowest sales growth. Food retail had an MAT growth of 8.2 per cent, hitting $132 million, with food catering up 5.7 per cent to $353 million.
Homewares MAT across Stockland centres was also up by 4 per cent to $53 million, however sales between Q1 FY25 and Q1 FY26 grew just 0.7 per cent.
Retail services, another speciality category recorded in Stockland’s trading update, had a MAT growth of 5.4 per cent to $256 million.
Stockland reported that the essentials-based portfolio continues to perform against a backdrop of cost-of-living pressures.
Total comparable MAT growth across all categories lifted 3.4 per cent hitting $4.9 billion, while comparable MAT specialty sales grew 3.3 per cent to $1.5 billion.
Compared to other store categories, supermarkets had a relatively lower MAT growth of 1.4 per cent, but had the highest MAT sales of $1.65 billion. Discount department stores and other department stores (including premium) had a MAT growth of 1.7 per cent, hitting $608 million in Q1 FY25.
Mini majors – think the likes of Rebel, Priceline, JB Hi Fi and Best & Less – had a 3.7 lift in MAT growth, hitting $717 million.
In quarterly terms, specialties and all department stores led the charge with comp growth of 4.3 per cent each between Q1 FY25 and Q1 FY26. Supermarkets lifted 2.4 per cent, while mini majors lifted 3.1 per cent in the same time frame.