Westfield Group

At Westfield Group’s annual meeting chairman Frank Lowy reiterated the company's vision of the future for shopping centres: larger, more luxurious centres focused on food, fashion and entertainment. This strategy, in addition to using more joint ventures, buying back securities and increasing development fees at the expense of owning centres outright, is designed to boost shareholder returns and keep people shopping at Westfield stores rather than online. Westfield’s strategy is sensible, but as we discussed in Three reasons to sell Westfield Retail from 22 May 2013 (Sell – $3.37) not every regional Westfield property can be redeveloped into the...

At Westfield Group’s annual meeting chairman Frank Lowy reiterated the company's vision of the future for shopping centres: larger, more luxurious centres focused on food, fashion and entertainment. This strategy, in addition to using more joint ventures, buying back securities and increasing development fees at the expense of owning centres outright, is designed to boost shareholder returns and keep people shopping at Westfield stores rather than online.

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