Thursday, August 18, 2011

Westfield resilient in the face of cautious consumers overseas and at home; plans to offload $2 billion of assets but wary about looming liquidity crisis.

The shopping centre giant Westfield says it's withstanding a weak retail environment as it delivered a 30 percent fall in half year profit yesterday (August 17).

Unlike its key competitors, Westfield has been resilient during the various stages of the global financial crisis, but says it's been able to adapt to a more cautious consumer and changing shopping patterns around the world.

The company has also been under pressure to fill vacant retail space caused by the high profile closures of Borders books and the Colorado clothing chain.

Here's my take on the results and overall consumer sentiment, broadcast on The World Today.

No comments:

Post a Comment

What's your view on this?