Retail

Simon Property Group (SPG) reports Q2 2020 earnings fell

0


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…



Source cnbc.com

New York Fed says rising number of U.S. companies less able to weather ‘liquidity shocks’ due to pandemic

Previous article

Banks and tech companies including JPMorgan, Google and Amazon form New York jobs council

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail