Simon Property Group (NYSE: SPG) hosted the first National Outlet Shopping Day June 11-12 at its 90 properties throughout the country. The event is aimed at customers looking for discounts on an array of products available at outlet shopping centers.
CNBC spoke with CEO David Simon, who said he “wants to create a new type of annual shopping extravaganza as consumers are increasingly feeling the pinch of inflation just about everywhere they go.” Simon added that the event is one way the REIT is working with its tenants to bring customers in during a time of rising inflation.
Roughly 300 retailers participated in the first National Outlet Shopping Day, held exclusively at Simon properties, including J.Crew, Banana Republic, and Puma.
Read Simon’s full interview with CNBC here.