News

Mall operator: Retailers underreporting sales

May 2, 2018

Simon Property Group CEO David Simon claims a significant number of retail and commerce tenants aren't reporting accurate sales figures as they are deducting returns on online items.

The U.S.'s largest mall operator, according to a Bloomberg report, is striving to work out a solution given the importance of the sales per square foot aspect for landlords striving to rent out space and keep brand reputation intact.

"We are getting dinged by internet returns," Simon said in a recent conference call with analysts, according to Bloomberg. "Every retailer is different, and there is not a standard response yet. It needs to be addressed in future leases."