BUSINESS MEMO: WESTFIELD EARNINGS

Westfield American Inc., a real estate investment trust, and owner of 38 regional Westfield Shoppingtown shopping centers, including West Park Mall of Cape Girardeau, has reported increased earnings for the third quarter.

Revenues for the quarter were $120 million, compared to $78.7 million during the same period a year ago. Mall shop sales per square foot increased 6.8 percent for the quarter and 4.9 percent over the nine-month period.

Funds from operations were $44.1 million, or 43 cents per share, compared to $36.1 million or 41 cents per share during the same period a year ago. Sales for the nine months ending Sept. 30, were $2.1 million, up five percent.

During the quarter, two Westfield Shoppingtown redevelopments were completed, including 27,000 square feet of additional specialty space at Crestwood in St. Louis.

The company's West County Mall in St. Louis will start a $200 million redevelopment in the in the first quarter of next year, which will include Missouri's first Nordstrom Store. Nordstrom will include 225,000 square feet. The West County Mall will include 1.2 million square feet, including flagships Famous Barr, Lord & Taylor, a remodeled JCPenney and the Nordstrom store.