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IPFS News Link • Business/ Commerce

Cracks Are Showing On The Surface Of Once "Safe" Top Tier Malls

• by Tyler Durden

But this holiday season, it looks like that's not going to be the case. Some landlords of the most highly trafficked malls across the country are issuing warnings about slowing income growth as they try to continue to target new ways to get feet in the door, according to the Wall Street Journal

Simon Property Group said during its most recent earnings call that retail bankruptcies "negatively impacted" net operating income in the quarter. It also lowered its 2019 guidance to a range of $6.76 to $6.81 from $7.04 to $7.14 due to a one time cost associated with an early debt repayment. 

Taubman Centers, owner of The Mall at Short Hills in New Jersey and Beverly Center in Los Angeles, also lowered its 2019 guidance for same property net operating income growth to a range of 0% to 1%, from 2%. The company's COO blamed the lowering partially on the bankruptcy of Forever 21.