Shopping centre group Westfield today announced 4.5 per cent sales growth across its two London centres in the first half of 2013 and a moving annual turnover approaching £2bn. Sales for Westfield London rose 1.9 per cent while sales in Stratford City grew by 7.3 per cent.
Leisure sales at the two centres including the top performing cinemas in the UK, casino, bowling and gyms, rose 14.4 per cent year-on-year, continuing the growing trend of powerful leisure anchors. The percentage is set to keep rising following the announcement made earlier this year of the opening of global children’s entertainment brand Kidzania at Westfield London in 2014 which is expected to attract an additional 1m customers a year.
Westfield Group Co-CEOs, Peter Lowy and Steven Lowy AM said: “The results for the half year were in line with forecast, reflecting the solid performance from the portfolio.”
Fashion sales were up 9.2 per cent, jewellery sales rose by 9.5 per cent while general retail (which includes gifts, souvenirs and cosmetics) soared by 13.7 per cent. Tourism spend also surged by 30 per cent in Westfield Stratford.
The group, which owns retail space across Australia, the US and the UK, is currently in the planning stages of a further £3bn+ of regeneration projects over the next five years in the UK and Europe with the expansion of Westfield London and new developments at Croydon, Milan and Bradford.
Michael Gutman, Westfield Manager Director Europe commented: “Westfield’s London centres continue to deliver strong sales growth in 2013. They are successful examples of our global strategy to deliver iconic centres in key world markets, combining the best in fashion, dining, leisure, entertainment and assisted with the latest in technology.”