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Retail News > Simon Property Group Inc

Simon Property Group Inc , the largest owner of U.S. malls and outlet centers, reported a higher-than-expected quarterly profit on Monday, boosted by increased occupancy and rent, and the company raised its earnings forecast for the year.

Simon’s vast collection of malls and outlets includes some of the highest-quality U.S. properties, where demand for space from retailers keeps growing. Weaker malls are feeling more acutely the effects of wary consumers and competition from online shopping.

Simon has been able to post higher results and lower its cost of capital by redeveloping its proprieties – steps such as modernizing, adding store space and expanding parking facilities.

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