Mall Owner Simon Property Says Sales At Its Centers Returned To Pre-Pandemic Levels In June

Simon Property Group saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter, as Americans shopped for clothes, shoes and other items. Simon Property Chief Executive David Simon told analysts Monday that retail sales at its properties in June were comparable to June 2019 levels, and up 80% from a year earlier. Parts of the United States saw sales higher than 2019 levels, he added. The biggest U.S. mall owner is hoping the improving trends coax businesses to sign new leases. The company has been looking to fill spaces that were vacated by brands that either went bankrupt or had to cull stores. Read more at CNBC.