TANGER INC. Stock Price, News & Analysis

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) reported positive developments in liquidity and operations as of August. The company generated positive cash flow, fully repaid its unsecured credit lines, and maintained a liquidity of approximately $606.6 million. Rent collections improved to 85% of billed rents, up from 81% in July. Occupancy stood at 93.7%, with traffic averaging 89% of prior year levels. Tanger will participate in the Bank of America Securities Real Estate Virtual Conference on September 15-16, 2020.

Tanger Factory Outlet Centers (NYSE: SKT) will close on Thanksgiving Day 2020 amid the COVID-19 pandemic, prioritizing the well-being of shoppers and employees. Beginning November 1, Tanger will enhance holiday shopping experiences with special sales and extended hours. The company aims to provide a safe shopping environment through in-person, curbside pickup, and a Virtual Shopper Concierge service. With over 39 years in the outlet industry, Tanger operates 38 centers across 20 states and Canada, renting about 14.1 million square feet to over 2,700 stores.

Tanger Factory Outlet Centers (NYSE:SKT) has announced a partnership with HeadCount to enhance voter registration among young people. On September 5, Tanger will host voter registration stations at 24 locations across the U.S., transforming its shopping centers into civic engagement hubs amidst the COVID-19 pandemic. Stephen Yalof, COO, emphasized the importance of supporting democracy by facilitating a seamless registration process outdoors. HeadCount, known for its grassroots efforts, aims to engage potential voters ahead of the November election.

Tanger Factory Outlet Centers (NYSE: SKT) announced its financial results for Q2 2020, reporting a net loss of $0.25 per share, a stark contrast to net income of $0.15 per share in Q2 2019. The pandemic significantly impacted operations, with rent collections improving in July. Tanger maintains a strong liquidity position with over $564 million available. Despite challenges, occupancy stands at 93.8%, and management is optimistic about new tenants and innovative offerings like the Tanger Virtual Shopper™. The company has temporarily suspended dividends to conserve cash during this period.

Tanger Factory Outlet Centers, Inc. announces the 2020 TangerSTYLE sale, encouraging back-to-school shopping with family-friendly discounts. The event features fashion deals across multiple brands, emphasizing safety protocols like social distancing and face coverings at their outlets. CEO Steven B. Tanger reassures shoppers of a secure shopping experience, whether in-store or via the Virtual Shopper service. This year's sale includes options for kids' styles and workwear for parents, alongside tips for budget-friendly shopping.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for the quarter ended June 30, 2020, on August 5, 2020, after market close. A conference call for analysts and investors is scheduled for August 6, 2020, at 8:30 a.m. ET, accessible via phone or live audio webcast. A replay of the call will be available from August 6 through August 20, 2020.

The company operates 39 outlet shopping centers across 20 states and Canada, attracting over 181 million visitors annually.

Tanger Factory Outlet Centers, Inc. announced the launch of a new Virtual Shopper program, allowing customers to shop remotely through personal associates. This initiative is designed to enhance customer engagement and drive sales for retail partners amid the ongoing COVID-19 pandemic.

Consumers can fill out a virtual shopping form detailing their preferences, with associates shopping on their behalf. The service is available at no cost and includes options for curbside pick-up or home delivery, covering Tanger's extensive portfolio across the U.S. and Canada.

SYNLawn and Tanger Factory Outlet Centers have announced a partnership to enhance summer experiences for families by introducing putting greens at 33 locations across the U.S. and Canada from June through September. The 'Summer Fun Fore All' events will feature the Dave Pelz GreenMaker, a premium putting green retailing at $1,799, developed for golfers of all ages. Safety measures, including social distancing and sanitization, are in place due to COVID-19. This collaboration aims to improve family engagement and foot traffic in Tanger Outlets, which attracts over 181 million visitors annually.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced operational updates and debt amendments on June 15, 2020. Following the lifting of COVID-19 mandates, 72% of occupied stores are currently open, with weekly traffic exceeding 85% of prior levels. The company amended its debt agreements to enhance covenant flexibility and repaid $100 million in outstanding balances, leaving approximately $433 million cash on hand. Additionally, Tanger revised executive contracts to eliminate certain severance benefits, emphasizing a commitment to robust pay practices.