How bankruptcy saved Express [MSNBC.com]
Simon Property Group, Inc. (SPG)
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Source: MSNBC.com
In this articleExpress has been a shopping mall staple since the 1980s. But since its CEO Michael Weiss left the company in 2015, its sales and store count have been declining.In recent years, Express has been squeezed by thin margins and decliningWhat's more, cheaper fast-fashion alternatives like Shein and Primark have taken market share from the brick-and-mortar retailer."Every time these kinds of expansions came through, they were cheaper than Express. Yes, the product wasn't as well built, but the customer didn't care. And so Express's market kind of kept on shrinking and it became much harder to sell fashion and to sell it at an affordable price," said Eric Beder, CEO of Small Cap Consumer Research.CNBC reported thatExpress was struggling to pay its vendorsfiled for Chapter 11 bankruptcy protectionBankruptcy has helped Express to stay in business, get out of old leases and even given it a chance to revive its fortunes.A group of investors led by brand management firm WHP Global
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News
- Simon Property Group, Inc. (NYSE: SPG) was downgraded by analysts at Piper Sandler from a "strong-buy" rating to a "hold" rating.MarketBeat
- Introducing ShopSimon™: Brands You Love. On Sale. 24/7. [Yahoo! Finance]Yahoo! Finance
- Introducing ShopSimon™: Brands You Love. On Sale. 24/7.PR Newswire
- Simon® to Present at BofA Securities 2024 Global Real Estate ConferencePR Newswire
- Retail REITs: Steady consumer spending underpinned improved Q2 demand for shopping spaces [Seeking Alpha]Seeking Alpha
SPG
Earnings
- 8/5/24 - Miss
SPG
Sec Filings
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- SPG's page on the SEC website