
Simon Property Group Inc, the biggest U.S. mall operator, said on Wednesday it was ending its $3.6 billion deal to buy Taubman Centers Inc, citing the beating the retail sector has taken during the Covid-19 pandemic.
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Simon Property Group Inc, the biggest U.S. mall operator, said on Wednesday it was ending its $3.6 billion deal to buy Taubman Centers Inc, citing the beating the retail sector has taken during the Covid-19 pandemic.
Brands such as Lululemon are gradually starting to welcome guests back to select locations, as well as major retailers and malls, including TJX and The Outlets at Tejon, in California.
Property giant Landsec’s full-year results to March 31 showed the devastation that the coronavirus has wreaked, as well as the ongoing weakness (and pockets of strength) in the wider retail sector.
Malls giant Hammerson said Monday it has received “a variety of requests for rent deferrals, which we are reviewing on a case-by-case basis” across its properties in the UK, Ireland France and other European countries.
Moss Bros has updated the market about the potential impact of the coronavirus on its business and times are tough, despite its ultimate confidence about the long-term situation.
Shopping malls giant Hammerson was focusing on its “further progress in portfolio optimisation" in its annual results statement, which underlined the tough times in UK retail at present.
Via Outlets, the European premium outlet centre operator, said it saw strong growth in 2019, with increases across all metrics as remodelling works, new brands and a tourist focus all paid off.
The Spanish group’s The Style Outlets in Amsterdam is now 80% leased out, as Neinver also started work on the Alpes outlet centre in France, and the Vicolungo centre in Italy is undergoing a €9 million facelift.
European outlet malls operator Via Outlets has reported “strong results and continued growth” on the back of its major remodelling work across its portfolio.
Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the Bicester Village owner.