Business
Sales at Unibail’s Westfield malls hit as virus keeps shoppers away – Sydney Morning Herald
The former Westfield retail empire has been hit hard by the pandemic with a 14 per cent fall in sales and just over half of tenants paying rent.
The former Westfield retail empire of Frank Lowy, now in the hands of European Unibail-Rodamco, has been hit hard by the global pandemic with a 14 per cent fall in sales and just over half of its mall tenants paying rent.
The European-based retail giant, which bought Westfield for $22 billion in late 2017 and is dual-listed in Australia, said its net revenue income (NRI) for the first half of the financial year fell 14.4 per cent. The United Kingdom was the worst hit with a 27.5 per cent drop i…
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