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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)