Westfield Upbeat On US, Australia Retail Sales Environment
24 Mayo 2011 - 9:54PM
Noticias Dow Jones
A benign retail sales environment in Australia is showing signs
of life and retail sales in the U.S. have improved "enormously",
Westfield Group (WDC.AU) executives said Wednesday.
The global shopping mall giant said sales from Australian
specialty stores rose 4.4% in March and April compared to the same
two-month period a year earlier. They jumped 7% in the U.S.
Conditions in the Australian retail sector have been relatively
benign for some time, joint Chief Executive Steven Lowy said.
"There seems to be an improving trend and Easter seemed to be a
good period for the retailers," he told reporters.
Joint Chief Executive Peter Lowy said there is "definitely a
recovery in process" in the U.S. "The retail industry is
recovering, the economy is recovering," he said.
Westfield stuck to its annual profit guidance as the negative
impact of a strong Australian dollar on offshore earnings is offset
by lower interest rates in the U.S.
The company has no plans to report in a different currency,
Chairman Frank Lowy said. "I don't think this is on the agenda," he
told reporters.
"A decision to change currency would be a very big one, but if
it will be necessary we will consider it."
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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