Council city property manager Robert Clark defended the mall yesterday, acknowledging teething problems and the recession had not helped, but insisting most retailers were doing "better than expected".
However, Auckland retailer Gemma Arnell, the New Zealand national operations manager for Australian-based chain TS 14+, has accused the council of having "reneged" on promises to Wall Street retailers.
"I have been in retail 22 years and this is being managed by a city council that's been in retail five minutes. You can see the difference," she told the Otago Daily Times.
The comments follow claims this week Auckland-based chain Life Pharmacy, which operates the largest shop in the mall, had made up to three Dunedin staff redundant.
The Life Pharmacy Wall Street shop manager declined to comment, and an Auckland-based company spokeswoman would say only the claims were "not entirely accurate".
Mr Clark said he had heard of "the possibility of one job loss" at the mall, but would not say where, and dismissed as "nonsense" claims the council lacked retail experience, citing his 40 years in property.
Fourteen shops in the mall are tenanted and five are vacant, nearly four months after its March opening, and some shop managers and staff have concerns.
Most would not be named, citing company media protocols, but said they were worried vacant shops and hold-ups opening the walkway to the Golden Centre meant fewer customers drawn to the mall.
An escalator at the rear of Life Pharmacy, linking to Filleul St, was not operating, and nearly half the mall's 150 car parks had gone to make way for a Fisher and Paykel office, as part of a planned redevelopment brought forward in April.
One store manager said she often did not see a customer before 10.30am, while another said trading had begun "with a hiss and a roar" in March, but had since dropped off.
Ms Arnell said her company's Wall Street site had been built beside the Golden Centre walkway entrance to capitalise on foot traffic, which had yet to eventuate.
Sales were still positive, but that was because of her choice of stock, "not really to do, or not to do, with the mall", she said.
She accused the council of "slightly over-promising and under-delivering", saying fewer stores than expected were trading on opening day, and vacant retail space remained.
Several other retailers, who also acknowledged teething problems, said they were happy with their trade.
One store manager praised the mall's management for organising events to attract customers - such as a daily magic show for children this week.
Mr Clark said retailers' criticisms contrasted with what he was hearing.
Council staff were in weekly contact with retailers, and "the majority of them are very happy with trading".
Turnover from stores - details of which he declined to release - were "telling us good things", he said, without elaborating.
"We still believe the majority of the retailers there are doing better than expected."
Between 85% and 87% of the mall's floor space was leased, with five vacant stores, but talks were continuing with several potential tenants, he said.
Lost income from vacant stores was offset by higher-than-expected revenue from other stores within the mall, he said.
He acknowledged the impact of the recession and remaining concerns about the Golden Centre link, but could not say when the walkway was expected to open.
Golden Centre management have previously said the link was to be open by August, as part of that mall's redevelopment.
Asked about compensation for unhappy retailers, Mr Clark said he had been approached by "one or two tenants" with concerns about the mall, or those seeking relief in cases "where they were not doing so well".
He would not say whether deals had been reached, but said he was prepared to "do whatever we need to" to ensure the mall's success.
"Things go up and down in the property sector and retail sector . . . if you are not in it for the long haul you shouldn't be in it.
"We are committed to making Wall Street work and we believe it is working at the present time."
