Simon Property earnings could mean more mall store closures in 2023
Yahoo Finance Live’s Brian Sozzi provides his take on the state of the mall industry despite the economic slowdown.
Video Transcript
[MUSIC PLAYING]
– US mall landlord Simon Property Group touting that the mall business is still strong in its latest earnings report. It did, though, concede inflation is hitting some of its retail holdings. Sozz, of course, has a hot take on this.
Now, Simon is what they call an A mall owner. Right?
BRIAN SOZZI: Yes, an A mall.
– It’s true. They own the most premium properties.
BRIAN SOZZI: That’s true. And I was looking for some doom and gloom from Simon Property Group. That’s why I did it as my take. Didn’t really find it, per se. But did have some red flags.
First up, despite the economic slowdown, Simon noting that occupancy in its malls, as Julie mentioned correctly, A malls, some of the best