Even as fourth-quarter earnings gains came with an outlook that disappointed, chief executive officer and chairman David Simon said 2022 would be about preparing for big things next year.
And while leasing is improving, the CEO said the real action will be next year.
The CEO added: ‘Now we just got to execute it. I do think there’s so much going on that I’d be remiss not to say it still takes a while to get stores open. And with all the activity, we’ll see some of that in 2022. But you know, we’re going to see a tremendous amount of great new stores in the 2023 time period.”The real estate giant’s fourth-quarter net income increased 85 percent to $503.2 million, or $1.53 a diluted share, from the $271.
Retail sales at Simon properties rose 34 percent in the fourth quarter from a year earlier and were up 8 percent from the final quarter of 2019. Investors wanted something more and sent shares of the company down 3.3 percent to $144.05 in after-hours trading Monday.
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