Analysis: How Westfield is beating the shopping centre downturn
The owner of Westfield London and Stratford reported an increase in sales and footfall over the first nine months of 2019. Retail Week looks at how Westfield is beating the wider shopping centre malaise.
International retail property giant Unibail-Rodamco-Westfield (URW) has today reported a 16.3% increase in total shopping centre turnover over the financial period, while its centres are also bucking the trends when it comes to footfall in both the UK and Europe.
The performance was in contrast to the general mood music about shopping centres, particularly in the UK. The most recent BRC-Springboard Footfall and Vacancies Monitor showed a 3.2% footfall decline year on year at shopping centres in September.
URW seems to have devised a model that is working as well in continental Europe as in the UK, the USA. So, what is it doing right?
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