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1.Market Observations, 8.Was Sticky

26 May 2017 (AFR) – Topshop adds to retail A-REIT woes

(26 May 2017, AFR, p34, by Larry Schlesinger)

‘The collapse of fast fashion retailer Topshop Australia has cast another dark cloud over the retail sector and the under pressure retail A-REITs. Westfield Corp, Vicinity Centres and Scentre Group are the worst performing A-REITS this year with negative total returns to date of 7.8 per cent, 6.7 per cent and 6.3 per cent respectively compared with a 1 per cent positive return across the S&P/ASX 200 A-REIT Index. Weak retail sales growth, declining consumer confidence, the imminent arrival of e-commerce giant Amazon in Australia and declining sales at iconic US retailers like Macy’s and Nordstroms have swung investor sentiment against the retail property trusts.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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