Westfield Group has announced an AIFRS net profit for the year of $1.53 billion, up to 37.6 per cent on prior year.
Westfield has launched a national marketing campaign to introduce the country’s first online shopping mall, Westfield.com.au.
As part of the first stage launch, it will feature more than 100 retailers, not only existing retailers but also 'brick and mortar' retailers that are not currently trading in a Westfield centre, as well as retailers who currently operate purely online.
Shopping centre developer Westfield Group has proposed to restructure its business by creating a separately-listed property trust, expected to distribute $7.3 billion to securityholders.
After eight years of formal planning, 130 retail stores are now trading as part of stage one of Westfield Sydney's opening.
With the first stages of Westfield Sydney due to be revealed in just over month, Retailbiz chatted with Julia Clarke, Westfield Australia manager of corporate affairs, about the specs of the new space.