Vicinity Seems More Exposed Than Peers to Retail Malaise. FVE unchanged
Vicinity Centres released its third-quarter fiscal 2017 operational update, which point to a further deterioration in retail conditions. Vicinity’s comparable specialty moving annual turnover, or MAT, which is the industry benchmark, was up 1.1% in the year to March 2017, compared with 2.2% in the year to December 2016. This infers Vicinity recorded a negative sales result for the March quarter given there is 75% overlap in the two metrics. However, some of the slowdown is timing related, with E...
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