As retail sales continue to rise in the lead up to the much anticipated Christmas period, Scentre Group Ltd (ASX: SCG) reported a 4.2% increase in specialty store sales in Australia in its September third quarter. This brings sales up a total of 3.7% for the year so far with sales totaling $20.2 billion over the 12 months ending 30 September.
Scentre's New Zealand arm also continued to see improvements over the period, with the company reporting 2% growth in comparable specialty store sales over the last nine months, as well as 3.7% in the September quarter.
Although Scentre is recognising reasonable growth, I would still suggest Westfield Corp Ltd (ASX: WFD) is a superior investment prospect. While Scentre Group, which was created as part of the global Westfield restructure back in June, operates all of the brand's stores in Australia and New Zealand, Westfield Corp is in charge of the brand's international centres.
Westfield Corp's exposure to the recovering US and UK economies, as well as the potential for further global expansion, makes it a very appealing stock – particularly at its current price of $8.00 per share.
