Exclusive outtakes from industry leaders
While the concept of outlet malls and shopping centers was once considered a last-ditch way to unload excess inventory, Steven Tanger, chief executive at Tanger Outlet Centers, says the model is changing…and fast!
Tanger, speaking at the Reuters Real Estate Summit on Tuesday, said that many retailers who had previously shunned the outlet concept are starting to look at the option as more than just something for “the other guy.”
Mr. Tanger also gave us an update on how business conditions are looking overall — including how much the recent spate of lousy weather in New York is weighing on shoppers’ moods (it hasn’t helped our moods that much either, quite honestly!).