Westfield news and archive

Westfield hires new Chief Customer Officer, Caroline Puechoultres

Unibail-Rodamco-Westfield has hired Caroline Puechoultres as Chief Customer Officer, effective July 15, 2021. URW, which owns the Westfield London and Westfield Stratford City shopping centres, revealed Caroline will be responsible for growing the company’s consumer offering and strengthening commercial partnerships. She will also play a key...

Business

Westfield owner URW announces 1.25 billion euro bond placement

The owner of London’s Westfield shopping centre has announced a 1.25 billion euro two-tranche bond placement to help it strength its liquidity position and extend its debt maturity. It includes a 650 million euro bond with a 7-year and 5-month maturity and a 0.75 percent fixed coupon, and a 600 million euro bond with a 12-year maturity and a...

BusinessFeatured

Westfield owner URW reports slump in Q1 turnover, but upbeat on reopened markets

The owner of London’s Westfield shopping centre said Thursday its first-quarter turnover remained “strongly impacted” by the ongoing pandemic. Property giant Unibail-Rodamco-Westfield (URW) reported a 40.8 percent drop in turnover on a proportionate basis to 566.7 million euros, down from 956.6 million euros last year, as store closures...

RetailFeatured

Westfield reveals that community is a top priority for retail in 2021

Unibail-Rodamco-Westfield has released new research on the impact of the pandemic on the future of retail, which reveals that community has emerged as a top priority for consumers, suggesting that locally morphed experiences will allow physical retail to thrive in 2021 and beyond. In its ‘Westfield How We Shop: What’s Changed’ report the...

BusinessFeatured

Westfield owner to cut US presence, focus on UK estate

The owner of London’s Westfield shopping centre has said it is cutting down on its presence in the US and focusing on its UK estate as it navigates its way through the pandemic. Property giant Unibail-Rodamco-Westfield (URW), which has been heavily impacted throughout the year by global store closures, revealed Wednesday it made a recurring net...

People

Westfield owner URW names new group chief executive

Westfield owner URW has announced the appointment of Jean-Marie Tritant as chairman of the management board and group CEO, succeeding Christophe Cuvillier on 1 January. During a transition phase starting on 19 November, Tritant will hold the position of group chief operating officer. Tritant, who was most recently the president of the group’s US...

Business

Westfield owner URW responds to 'market rumours' about equity raise

Shopping mall operator and owner of Westfield London, Unibail-Rodamco-Westfield (URW), has responded to “market rumours” about a potential rights issue. A report last week by Bloomberg suggested the company was looking to raise 3.5 billion dollars (2.67 billion pounds) in fresh equity. The company's full statement read: “As detailed in its...

RetailFeatured

Stores in the UK will soon reopen, but are customers hesitant to return?

London -The re-opening of retailers across the UK will be a welcome sign for the economy, but shoppers may be hesitant to return. From mid-June non-essential stores will reopen, but with online shopping booming during lockdown, and newly imposed health and safety regulations changing operations, some are questioning if shoppers will return as...

Business

Unibail-Rodamco completes Westfield acquisition

Unibail-Rodamco has announced that it has completed the acquisition of Westfield, to create Unibail-Rodamco-Westfield, the premier global developer and operator of flagship shopping destinations. The company said, Unibail-Rodamco-Westfield combines two of the strongest and most respected names in the real estate industry to build on their...

Business

Westfield reports 13 percent rise in FY17 net profit

Westfield Corporation has announced its full year results with 13 percent rise in 2017 net profit to 1.55 billion dollars. Revenue rose by 17 percent to 2.1 billion dollars with funds from operations (FFO) for the 12 months ended December 31, 2017 reaching 707 million dollars. Commenting on the company’s performance, Westfield Corporation...

BusinessFeatured

Unibail-Rodamco to acquire Westfield in 24.7 billion dollar deal

Shopping centre giant Westfield, which has two centres in London, is being acquired by Paris-based Unibail-Rodamco to create the “world’s premier developer and operator of flagship shopping destinations” in a 24.7 billion dollar deal. The deal, which has been unanimously recommended by Westfield’s board of directors and Unibail-Rodamco’s...

RetailFeatured

Westfield reveals how consumers will shop next

To say that consumer shopping habits around the world are vastly changing is a bit of an understatement. Experts argue that retailers need to respond to change swift and adapt, or be left behind. ”This is arguably the most exciting time in retailing history," says Myf Ryan, Chief Marketing Officer, Westfield UK and Europe. "Retailers have to be...