Tag: biggest

America just had its biggest monthly surge in retail sales. But that’s not the full story

The increase was far better than economists had expected. Industry sales in May were expected to climb 8% from April, according to consensus estimates from Refinitiv.

This was the biggest one-month surge in history, dating back to 1992. Still, sales in May were down 6.1% compared with last year, according to the Census Bureau.

Walmart (WMT), Target (TGT), Kroger (KR), Costco (COST), Dollar General (DG) and others are benefiting from Americans buying more groceries and home essentials as they are sheltering in place. In recent weeks,
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Here’s why the biggest U.S. mall owner might want to buy JC Penney

Simon Property Group might want to own bankrupt J.C. Penney in order to be able to redevelop some of its best real estate and make it even better, according to one analyst. 

“We believe Simon wants to control the J.C. Penney boxes and land so that it can ultimately redevelop many of these in order to densify and introduce mixed use elements,” Compass Point real estate analyst Floris van Dijkum said. “A redevelopment (that would require zoning approvals, capital, and time) could unlock significantly greater value while boosting traffic for the retail.” 

Simon is considering teaming up with Brookfield Properties

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Biggest Mall Operator in U.S. Plans to Reopen 49 of Them

Simon Property Group, the biggest operator of malls in the United States, has come up with a game plan for reopening 49 shopping centers across 10 states starting on Friday.

Security officers and employees will “actively remind and encourage shoppers” to maintain a proper distance from others and to refrain from shopping in groups. Food court seating will be spaced to encourage social distancing, and reusable trays will be banished. Play areas and drinking fountains will be temporarily closed, mall-provided strollers won’t be available and, in restrooms, every other sink and urinal will be taped off. Regular audio announcements will

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12 of the Biggest Fashion Trends to Shop For in 2020

We’re unlikely to ever surrender to the phrase, New year, new you. We’re far more interested in meaningful growth over total reinvention. In that spirit, hold on to those pieces you’ve put such care into adding to your wardrobe and build from that foundation. Let’s not throw the baby out with the bathwater, shall we? Perhaps, this season is when you invest in warm-weather leather by way of a great suit. Maybe summer will be that much cooler with open-weave crochet separates. Neons are back and are much more approachable. And for those with a glimmer in their eye,

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Simon Property, biggest U.S. mall owner, sues Gap over skipped rent

Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State’s largest retail shopping space, in King of Prussia, Pennsylvania.

Mark Makela | Reuters

The biggest mall owner in the country, Simon Property Group, is suing one of its biggest tenants, Gap, saying it failed to pay more than $65.9 million in rent and other charges due during the coronavirus pandemic

The battle in Delaware state court highlights the mounting tension between retail landlords and their tenants, many of which stopped paying rent after the crisis forced them to shut stores.

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