Scentre Group has reported revenue falls in both its fashion and footwear categories across its Westfield shopping centre portfolio, including in New Zealand.
In the 12 months to September 2024, fashion sales fell 1.8 per cent, and also fell by 1.6 per cent in the nine months to September, and 1.9 per cent quarter-on-quarter.
Meanwhile, footwear sales improved through the year, with quarter-on-quarter sales in that category down by just 0.1 per cent. This is compared to a 0.8 per cent fall in the nine months to September and 1.7 per cent fall year-on-year.
The only other category to record consistent falls through the year was homewares.
Department stores have also been stricken by weak sales, with that category down 2.8 per cent through the year and down 3.4 per cent quarter-on-quarter.
The falls across the above discretionary categories were offset by strong lifts in jewellery and other retailing (newsagents, gifts and souvenirs and discount variety), each up 6.8 per cent 13.5 per cent respectively quarter-on-quarter.
Leisure and sports were up 4.2 per cent for the three months to September 2024, with food retail up 5.4 per cent.
Total retail sales across the Scentre Group portfolio were up 1.9 per cent quarter-on-quarter and 2.6 per cent year-on-year.
“Our focus on attracting more people to our 42 Westfield destinations has seen us welcome 429 million customer visits so far this year,” Scentre Group CEO Elliott Rusanow said. “This is 8.7 million or 2.1 per cent more than the same period in 2023.
“Total business partner sales for the nine months to 30 September 2024 were $20.2 billion, $0.4 billion or 2.3 per cent higher than the previous corresponding period in 2023.
“A record $28.8 billion of annual sales was achieved by business partners to 30 September 2024.”
Scentre Group operates 42 Westfield locations across Australia and New Zealand, with five in New Zealand.
Sales growth across its key states lifted the highest in South Australia in the last quarter, with Western Australia sales up 4.8 per cent year-on-year.
New South Wales was the only state to record a fall in quarterly sales by 0.2 per cent. New Zealand is the weakest region, down 1.7 per cent in the three months to September, and was up by 0.1 per cent in the last nine months and up 0.4 per cent year-on-year.
According to Scentre Group, growth across the board has been impacted by the department store downsizing projects at Westfield Bondi, Burwood and Southland.
Excluding the impact of these projects, total sales for the three months to September would be 2.2 per cent.