Footwear and homewares were the only two product categories recording falls in the third quarter of FY25 across Westfield shopping centres in Australia and New Zealand.
Shoe sales slipped by 0.3 per cent in the three months to March 2025 compared to the same time in 2024. This is just ahead of homewares, with sales falling 0.4 per cent in the same timeframe.
Fashion lifted slightly in the March quarter by 0.8 per cent, while jewellery surged up 8.4 per cent, each trailing behind a 17 per cent surge in other retailing, which includes gift and souvenir shops, as well as discount variety.
In terms of store format, department store spending fell 1.1 per cent across Westfield centres in the last quarter, with discount department stores lifting 2.6 per cent. Majors were up 1.3 per cent, and specialties up 3.2 per cent.
Westfield centres are managed by Scentre Group, with the group CEO Elliott Rusanow saying customer visitation across its 42 Westfield destinations in the 18 weeks to May 4 was 179 million, up 2.3 per cent or 4.1 million more than the same period in 2024.
“Our business partners achieved $6.7 billion of sales in the 3 months ended 31 March 2025, up 2.8 per cent compared to the same period in 2024.
“On a rolling 12-month basis to 31 March 2025, our business partners achieved record sales of $29.1 billion.”
Rusanow added that portfolio occupancy across its centres was 99.6 per cent at March 31, 2025, with average specialty rent escalations up 4.4 per cent in the same period.
The group reportedly completed 635 leasing deals in the quarter, with an average leasing spread of 2.1 per cent.
Scentre Group also confirmed that works are progressing on a redevelopment at Westfield Bondi in Sydney, where a new Virgin Active lifestyle fitness offer and a new Rebel rCX concept store is set to open on Level 1 in June this year.
There is also an expansion going on at Westfield Sydney on the corner of Market and Castlereagh Streets in the CBD, with new luxury brands to progressively open from May 2025.
On a location basis, Scentre Group’s three Westfield locations in South Australia recorded an 8.1 per cent lift in sales for the March quarter, with its four stores in Western Australia reporting a lift of 4.3 per cent. It’s larger markets in New South Wales and Victoria – with 15 centres and seven centres respectively – lifted by 2.5 per cent and 2.7 per cent respectively.
The group’s six locations in Queensland reported the lowest growth across Australia, up just 1.7 per cent.
The five centres in New Zealand recorded a total sales drop of 0.3 per cent.