News: Westfield Corp posts solid growth in flagship stores

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Westfield Corporation (ASX:WFD) has revealed solid growth in its flagship stores with specialty retail sales up 4.4 per cent in the year to September.

 

The shopping centre manager’s portfolio is made up of 66% flagship stores and says total specialty retail sales were up 3.6%.

 

The company split from its Australian and New Zealand stores earlier this year and says it currently has $2.4 billion worth of developments currently under construction.

 

The company has major developments in California, London and Italy which it says are due for completion late next year or early 2016. 

 

Westfield Corporation reported a net loss of $871 million in the first half of the 2014 calendar year.