Forget the ebb and flow of retail — things are just fine from the perch of David Simon, chairman and chief executive officer of Simon Property Group.
The mall operator saw its funds from operations — the standard yardstick for real estate operating performance — gain 16.6 percent to $865.3 million in the first quarter. This came despite decidedly lackluster sales at the retailers it leased space to: Tenants’ sales per square foot inched up just 0.2 percent to $576 versus a year ago.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"