Marketing

Simon mall owner gets healthy financial boost as pandemic ebbs

Photo by istock.com

May 13, 2021

The vaccination against COVID-19 is driving shoppers back to the malls and that's proving to be good news for mall operator, Simon Property Group Inc.

Thanks to increasing shopper traffic the company enjoyed recent earnings that bested expectations, according to a Fox Business report.

Its March sales volumes increased compared to 2019, pre-pandemic time, according to a statement from CEO David Simon.

In terms of mall tenancy, the company believes it will take another year or two before it hits 2019's occupancy level.

"We still have some difficult relationships and negotiations that we're dealing with ... if they're not paying what we think is fair, we'd rather just sit on empty space," Simon said in the statement.