Simon® Reports 6.4% Portfolio Traffic Increase on Black Friday Weekend, with a 7.1% gain reported at Simon's Malls nationwide

Rhea-AI Summary

Simon, a real estate investment trust, reported significant traffic growth during Black Friday weekend across its shopping centers. The company saw a 6.4% year-over-year increase in overall traffic, with malls specifically showing a 7.1% gain. Daily traffic increases were 5.9% on Black Friday, 6.3% on Saturday, and 8.2% on Sunday. Retailers within Simon's portfolio reported double-digit sales increases compared to the previous year, with multiple locations experiencing lines before opening and throughout the day.

Positive

• 6.4% year-over-year traffic increase across all properties
• 7.1% traffic growth specifically in malls
• Progressive daily traffic improvements (5.9% Friday, 6.3% Saturday, 8.2% Sunday)
• Retailers reported double-digit sales increases compared to previous year

Negative

• None.

Preliminary data indicates strong traffic across Simon's Malls, Premium Outlets and Mills centers for the first holiday shopping weekend of the season

INDIANAPOLIS, Dec. 2, 2024 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, saw a remarkably strong start to the holiday shopping season on Black Friday that continued throughout the weekend, including a 6.4% increase in year-over-year traffic at its centers across the country amid preliminary reports of surging sales from retailers.

Waves of customers kicked off their holiday shopping season across Simon's portfolio of centers across the country. Year-over-year traffic was up 5.9% on Black Friday and grew throughout the weekend, including a 6.3% increase on Saturday and 8.2% on Sunday. Data is verified by traffic counters deployed at Simon centers.

The growth was experienced across all of Simon's platforms with Malls up an impressive +7.1%.  The strong initial Black Friday reports represent a continuation of growth and momentum for Simon, which has seen a steady increase in shopper traffic leading into the holiday season. 

"On Black Friday and throughout the weekend, we saw even more evidence of what we already knew: Malls are thriving," said David Simon, Chairman, Chief Executive Officer and President of Simon. "Popular brands throughout our portfolio reported double-digit sales increases over the weekend compared to last year. Coast to coast, we saw lines prior to opening and throughout the day at many of our centers across the country. Shoppers know that Simon centers are a one-stop shop for all of their holiday needs. But beyond that, our incredible shopping destinations are places where people across all generations can connect and make holiday memories. We look forward to a continued strong holiday season."

About Simon

Simon^® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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SOURCE Simon

FAQ

What was Simon's (SPG) Black Friday 2024 traffic increase?

Simon reported a 6.4% year-over-year traffic increase across its properties during Black Friday weekend 2024.

How did Simon's (SPG) mall traffic perform during Black Friday weekend 2024?

Simon's malls specifically showed a 7.1% traffic increase during Black Friday weekend 2024.

What were Simon's (SPG) daily traffic gains for Black Friday weekend 2024?

Simon reported traffic increases of 5.9% on Black Friday, 6.3% on Saturday, and 8.2% on Sunday.

How did retailers perform at Simon (SPG) properties during Black Friday 2024?

Retailers within Simon's portfolio reported double-digit sales increases compared to the previous year.