In a call with investors after reporting its first-quarter earnings, the company said that 77 of its properties were currently open; itin the US and 29 internationally. The company closed all its malls at the end of March and has been gradually reopening as lockdown restrictions ease.
Simon said that up until the stay-at-home restrictions were put in place, the company was seeing "solid trends" in foot traffic, tenant demand, and reported retailer sales. Retailers are also on board with reopenings, Simon said: "I think people want to get open...and compete with the broad array of options that the consumer has.". Enforced store closings meant that many retailers have seen sales dry up for weeks on end but are still required to pay expensive store rents. Some have simply shifted the financial burden on to their landlords and refused to pay rents or requested rent deferral.
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