Scentre Taking the Fight to Evolving Retail Landscape. FVE Unchanged at AUD 3.85
Scentre Group’s first-quarter 2019 operating update revealed the structural challenges for retail landlords persist unabated. The tough environment is clearly evidenced in specialty retail sales up just 1.3% for the year to end March and for the March quarter in isolation up 0.8%. While sales performance was lacklustre, it was nonetheless pleasing to see all but three of the 15 retail categories report positive--albeit low-single-digit--sales growth.Our unchanged 2019 forecasts align with reite...
Scentre Group is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its Australian and New Zealand portfolio of retail properties. Co.'s operational segment comprises the property investments and property and project management segments. The property investments segment includes existing shopping centers and completed developments. The property and project management segment includes property management and development. As of Dec 31 2015, Co. had a portfolio of 34 centers in Australia and six centers in New Zealand.
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