The biggest US mall owner plans to have 50% of its centers reopened this week
The biggest U.S. mall owner, Simon Property Group, said Monday that it plans to have roughly 50% of its properties reopened again within the next week, as states begin to loosen their lockdown restrictions during the coronavirus pandemic.
It made the announcement as it reported quarterly earnings, where Simon’s quarterly profits fell 20.2% during the first quarter ended March 31.
“We are now leading the effort for these local economies to get back to business,” Chief Executive David Simon said during an earnings conference call with analysts. “We want to help these local communities … because frankly they depend on our sales taxes.”
Simon owns roughly 200 malls and outlet centers in the U.S., including Copley Place in Boston and Northgate Mall in Seattle.
Simon shares climbed as much as 3% in after-hours trading following the release.
Simon started reopening some of its malls in states including South Carolina and Georgia on May …continued .
[Source: CNBC News]