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Tag: Simon Property Group Inc

How businesses are planning to bring workers back after coronavirus

At some point, the biggest American companies are going to tell their employees it’s time to leave home and return to work.  That decision will be fraught with risk without widespread testing for the COVID-19 virus. For some industries, such as Wall Street banks, ubiquitous testing is essential to bringing back their workforce to offices …

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Macy’s blames sluggish sales on weak shopping malls

Macy’s said its stores at weaker U.S. shopping malls were hurt by slower foot traffic during the latest quarter, leading to a steeper-than-expected sales decline. “We’ve been investing in malls where our developers are investing and … we feel really good about that initiative, and those stores continue to outpace the breadth of our fleet,” …

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People are going to the mall to eat at the food court, not shop: UBS

Shoppers walk through the food court at the Easton Town Center Mall in Columbus, Ohio. Luke Sharrett | Bloomberg | Getty Images More and more people are going to the mall to eat at the food court, not to buy clothes, according to a survey from UBS. The investment bank said apparel spending continues to …

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Simon Property CEO says ‘reaching the bottom’ of retail bankruptcies

The CEO of the biggest mall owner in the U.S., Simon Property Group, says the retail industry looks to be “reaching the bottom” of a tumultuous wave of bankruptcies. “We are having a high bankruptcy year. … There’s no denying that,” David Simon told analysts during a post-earnings conference call on Wednesday morning. “But I …

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Timeline of New Jersey’s American Dream megamall and how it got built

This is a rendering of the American Dream project in New Jersey which is scheduled to begin opening to the public on Oct. 25, starting with the Nickelodean theme park. Source: Triple Five Group After more than 17 years in the making, the first phase of America’s newest megamall will finally open to the public …

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