Retail

The biggest US mall owner Simon Property Group is doubling down on retail

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Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania.

Jennah Moon | Bloomberg | Getty Images

Simon Property Group is on a buying spree as America’s mall operators grapple with declining foot traffic and some struggle to keep their doors open.

The biggest mall owner in the U.S. is close to wrapping up an $81 million deal to rescue teen apparel retailer Forever 21 out of bankruptcy court, the same week it announced its plans to acquire rival mall owner Taubman in a deal valued at $3.6 billion.

With Taubman, Simon is doubling down on its thesis that the best and most profitable malls in America will survive, analysts say. And in buying Forever 21, Simon is proving it…



Source cnbc.com

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