Tanger CEO says World Cup drove up traffic, sales this summer
📰 source: cnbc_topnews · 💼 business
tanger ceo stephen yalof said the world cup drove traffic and sales at its outlet centers this summer, with visits up in june and july. the company operates shopping centers in eight of the eleven host cities for the tournament.
yalof told cnbc that international tourists came looking for a 'real american experience' — eating at chick-fil-a or shopping brands like polo, michael kors, and nike at a discount. he said sales for the year are up about 5%, which is 'pretty substantial.' domestic traffic also rose as americans stayed closer to home amid rising oil prices and the geopolitical environment.
strong second-quarter results reported tuesday, driven by marketing and traffic initiatives, plus a robust movie business, added to the momentum. 'people are coming early to enjoy the shopping, staying late and enjoying the dining,' yalof said.
why it matters: world cup tourism and domestic staycations lift tanger's sales 5% for the year, showing outlet retail resilience in a tough macro environment.
source: cnbc_topnews
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