Overall, for the three months ending September, total portfolio retail sales were down 25.7 per cent relative to the same time in 2020, but rose 7.1 per cent across the less impacted states.
Vicinity chief executive Grant Kelley called the quarter “challenging” with the prolonged lockdowns in NSW and Victoria impacting the performance of the portfolio.
“However, retail sales across the COVID-normal states remained strong, and we are delighted with the rebound in visitation in NSW and Victoria, as restrictions started to ease in October,” he said.
“We are optimistic that positive momentum will continue in the second quarter of the 2022 financial in the lead up to the holiday period and with the resumption of interstate and international travel, but we nevertheless maintain a level of caution with the expected expiry of the respective SME codes of conduct, currently in effect in NSW and Victoria, in January 2022.”
Due to ongoing uncertainty resulting from the COVID-19 pandemic, Vicinity continues to withhold earnings guidance for this financial year.
