Kimco at Bank of America Conference Notes

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Conor Flynn – CEO

Brick and mortar is crucial to e-commerce

“research reports show that brick-and-mortar stores are crucial to supporting retailers e-commerce growth. When a new store opens traffic to the retailer’s Web site from within the surrounding postal area increases by over 50% on average within six weeks of opening the physical store.”

Grocers have invested in omni channel, not sure any money in meal kits

“All the major traditional grocers have been really working on omni-channel, click-and-collect, Home Delivery, that’s been something that everyone’s been doing. Nobody’s really made any money on it, but it’s really an amenity that I think consumers are demanding. You are also going to see meal kits from Blue Apron and others continue to be interesting even though, I’m not sure any money is made there either.”

Almost all stores are back and operating in both hurricane zones

“Houston we are very, very lucky. We actually — all of our sites are opened and operating there and we will not be filing an insurance claim there, which is pretty amazing when you think about the flooding and devastation that went on there. And again, in Florida, we got lucky as well. We’ve seen almost our entire portfolio, except for one asset that’s in the Florida Keys, that was right sort of in the eye of the storm there in Marathon. So we should have a report today in terms of what kind of damage was done there. But again, most of those are now open and operating, if not all.”