Summit Notebook

Exclusive outtakes from industry leaders

AUDIO – ‘Off to the Outlets’ — A new real estate mantra

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When it comes to shopping for bargains these days, retailers are expanding their window of possibilities the same way as increasingly price-conscious consumers.

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┬ásomething 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!).

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