Simon Property Group (SPG) Misses Q1 EPS by 20c, Revenues Beat; Withdraws FY20 Guidance
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U.S. landlords, retailers play hardball as mall rent collections plunge
May 11, 2020 1:07 AM EDTBy Uday Sampath Kumar and Medha Singh
(Reuters) - Tapestry Inc (NYSE: TPR) Chief Executive Officer Jide Zeitlin has been negotiating lower rents for the company's Coach and Kate Spade stores for more than a month, using the brands' power to draw in U.S. mall traffic as leverage in tough talks with landlords.
The company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash... More
Wells Fargo Downgrades Simon Property Group (SPG) to Equal Weight
May 7, 2020 4:50 AM EDTWells Fargo analyst Tamara Fique downgraded Simon Property Group (NYSE: SPG) from Overweight to Equal Weight with a price target of $60.00.
For an analyst ratings summary and ratings history on Simon Property Group... More
