While last week's drop in interest rates will be positive in the short term, figures showing consistent falls in sales on a year-on-year basis have put centre managers on notice that they must reinvent the store format or perish.
Yesterday's data from Westfield's third quarter sales figures disclosed that the fall in comparative sales for department stores - excluding new openings - accelerated in the three months to September 30.
Sales had already been on a downward trajectory for the year, falling 7.5 per cent over the year and 10 per cent over the past nine months.
Even the discount department stores Target, Big W and Kmart have fallen out of favour, with sales falling 4.1 per cent since July.