Simon Property Group CEO David Simon
Anjali Sundaram | CNBC
Simon Property Group Chief Executive David Simon said Monday that the company is still looking to salvage additional distressed retailers, having already made bids for bankrupted Lucky Brand, Brooks Brothers and J.C. Penney.
“We’re acquiring inventory at or below cost,” Simon said, explaining the company’s acquisition strategy during a conference call with analysts. “There’s profit in there.”
“We continue to look for other opportunities,” he said. “We are doing our fair share for trying to keep this world as normal as we can.”
As an example, the CEO noted that saving Brooks Brothers from a total liquidation would save around…