Top U.S. mall operator Simon faces pandemic pain

Simon Property Group, the No. 1 U.S. mall owner, is expected to post its smallest quarterly profit in nearly six years on Monday, as the plunge in foot traffic and early government-mandated closures resulted in tenants being unable or unwilling to pay full rent. “The upcoming earnings for mall owners could be one of the worst quarters ever,” said Compass Point Research & Trading analyst Floris van Dijkum. The pain from a slew of major retail bankruptcies, including Neiman Marcus and Brooks Brothers, and hundreds of store closures from department stores Macy’s and Nordstrom and others is far …read more

Source:: Yahoo Finance