Adam Samson reported earlier this week at The Financial Times Online that, “Shares in companies that own and manage US shopping malls and other retail properties dropped on Tuesday, the fourth-straight decline, amid mounting anxiety over disappointing sales at department stores and clothing retailers.
“The S&P 500 retail real estate investment trust index dropped 1.9 per cent on Tuesday, and has tumbled 6 per cent since the end of trade last Wednesday.”
The FT article stated that, “Investors have been fixated on a string of sales misses in recent days disclosed by the best-known US department stores, such as Macy’s, Kohl’s and JC Penney.”
Mr. Samson added that, “In a sign of the rising jitters, shares in Simon Property Group, the biggest US mall operator, have slid 7 per cent since last Wednesday to $154.13.”
