As more bricks-and-mortar retailers report a slowdown in sales over the Christmas period, eyes are invariably turning to shopping centres to understand the broader picture. This picture doesn’t look particularly rosy at first glance, with Vicinity Centres having declared a 68.9 per cent fall in half-yearly profits last week to $235.3 million, impacted by a negative revaluation of its portfolio, as well as the continuing downward trend of footfall and consumer spend.
