Westfield revises earnings forecast by 5%

08/18/2010 | Sydney Morning Herald (Australia), The

Westfield has increased its full-year earnings forecast by up to 5%. The shopping center owner cited the falling number of bankrupt tenants and a decline in the amount of short-term lease deals as reasons. "The margins in our malls are the strongest we have seen for a while and on the outlook for sales we are cautiously optimistic. There has been a wide selection of new tenants [entering] our malls, reflecting the shift in consumer demand," managing director Steven Lowy said.

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Sydney Morning Herald (Australia), The

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