Westfield Group reported its results, which came through similar to what U.S. regional mall REITs have reported.
Sales from shops at the Australian malls rose 5.9 percent to A$20 billion ($19 billion) in the three months ended March 31, compared with the year-earlier period, Sydney-based Westfield said in a statement today. U.S. sales growth slowed to 0.7 percent from 4.7 percent a year earlier.
The strongest growth at Australian malls was posted by leisure retailers, where sales rose 13 percent, and jewelers with a gain of 10 percent. Department store sales increased 3.9 percent and supermarkets advanced 3.4 percent, Westfield said.
The company's U.S. centers had sales of $7.2 billion with 92.8 percent of its malls leased. Occupancy at the U.S. malls fell 0.6 percentage point from a year earlier.