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Westfield Stratford saw 47m shoppers in first year

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Shopping centre Westfield Stratford reported retail sales of £896 million in its first year of trade, financial results released today reveal.

During the course of the Olympic and Paralympic Games, the East London development welcomed eight million shoppers and reported a total of 47 million customer visits in its first year.

In its third quarter update for the nine months to September 30th 2012, Stratford City owner The Westfield Group announced that its global portfolio, which includes stores in Australia, New Zealand, the US and Brazil, was 97.7 per cent leased.

Meanwhile, the group’s UK portfolio was 99.5 per cent leased by the end of the quarter.

Australian retail sales remain subdued while the US operations continue to see growth and the group noted that its East Coast centres were not affected by Hurricane Sandy, though UK centres outperformed their international counterparts over the period.

On average, the Stratford centre welcomed around 800,000 customers per week and reported sales of £500 million within six months of opening.

Westfield Group Co-CEOs, Peter Lowy and Steven Lowy AM praised the British performance, commenting: “In the United Kingdom the performance of Stratford City has been outstanding with the London 2012 Olympics demonstrating our capacity, expertise and brand to a world audience.”

Published on Friday 02 November by Editorial Assistant

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