Simon Property Group 3Q13 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“For the malls and the Premium Outlets, comparable property NOI growth was 4.9% for the quarter, driven by tenant sales up 3% to $579 per square foot.”

“the thing that I am focused on in our mall business — and when I say mall business, I include the outlets, is that we have to make — we’ve always made retailer service a priority. So Rick and I are as good as sucking up to retailers as possible, okay? Sometimes, Rick is better than I am, but we both can suck up when required. The one thing we don’t do the way I would like us to, is I really want to — I want to provide better service to our consumers, the actual shoppers. And whether that’s — something we instituted last year was just surprising delights, come to the mall and we’re going to give you a free cup of coffee, we’re going to schlep your bags. We’re going to make your visit really better. ”

“September was a pretty bad month in terms of traffic and sales for all retailers. And we’re starting to hear and feel the traffic is bouncing back in October. But clearly, clearly, the general economy has slowed…But the fact is, we’re not denying that the world — the U.S. has actually slowed.”

Leave a Reply

Your email address will not be published. Required fields are marked *