Why Simon Property Group Plummeted 55% in March [The Motley Fool]
Simon Property Group, Inc. (SPG)
Last simon property group, inc. earnings: 2/4 07:30 am
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US:NYSE Investor Relations:
investors.simon.com
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Source: The Motley Fool
What happenedThe largest U.S. mall owner,Simon Property Group(NYSE:SPG Global Market IntelligenceMalls were already suffering as shopping behaviors shifted away from malls in recent years, but when thecoronavirusOn March , Simon announced the furlough of 0% of its workforce and the permanent layoff of other employees. Salaries of upper-level managers are cut by up to 0% during the pandemic, and CEO David Simon will not receive a salary.Image source: Getty Images.So whatLandlords everywhere are concerned about rents in April. Mall owners, with many tenants possibly already on the financial edge, wonder how they will ever recover.National restaurant chainCheesecake FactorySimon Property Group has long been exploring other uses for its real estate that's more in tune with what consumers want, such as high-end health clubs and work-sharing spaces. If some of the retail and restaurant tenants don't survive, the company may have the opportunity to implement these ideas sooner than expected.
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SPG
Earnings
- 11/1/24 - Miss
SPG
Sec Filings
- 12/26/24 - Form 4
- 12/10/24 - Form 4
- 11/14/24 - Form SC
- SPG's page on the SEC website