Vicinity Centres – the property company that manages 60 retail destinations including Chatswood Chase, Chadstone and Melbourne Emporium – has reported soft sales growth in apparel and footwear compared to other retail categories over FY26.
Moving annual total (MAT) sales for the year ending June 2026 were up just 1.3 per cent for apparel and footwear, similar to MAT growth for the year ending December 2025, which was up just 1.5 per cent.
Over the six months to June 30, 2026, Vicinity Centres reported a 0.7 per cent lift in apparel and footwear sales, with growth up 1.8 per cent in the half to December 31, 2025.
Fashion sales growth for the full year to June 30 is noticeably below other retail categories, with retail services (hairdressers, etc) being the second lowest MAT sales growth, up 3.1 per cent.
The top categories in terms of MAT growth through FY26 were jewellery (up 7.8 per cent), leisure (up 6.8 per cent), general retail (up 6.3 per cent) and homewares (up 6.1 per cent).
In the six months to June 30 this year, the top category was general retail (bookstores, toy shops, pharmacies, etc) with sales in the six months to June this year lifting by 6.5 per cent.
Interestingly, mobile phones reported a noticeable softening in sales in the six months to June 30, lifting just 0.5 per cent.
When it comes to store types, department stores saw declines in MAT growth for the full year to June 30 (down 1.3 per cent), with much of this in the second half (down 4.5 per cent). It is the only store-type category to record drops.
Specialty stores, which would include fashion and footwear boutiques, saw a 1.8 per cent lift in the second half of FY26, down from a 5.2 per cent in the first half.
Mini majors – slightly bigger stores, like Rebel – saw the strongest growth in the second half, up 4 per cent.
Discount department stores and supermarkets also reported modest growth of 2.5 per cent in the second half.
Across the entire portfolio, MAT sales for the first half of FY26 were up 4.2 per cent, with second half sales softening to 2.3 per cent growth.