CBL Properties Year-to-Date Sales off to Strong Start and Exceed National Average
March 23 2018 - 12:00PM
Business Wire
CBL Properties (NYSE:CBL) today announced that 2018 kicked off
with strong January and February sales. Sales per square foot in
CBL’s portfolio for reporting tenants under 10,000 square feet
increased 5.6% for the two months ended February 28, 2018, putting
it on-track to exceed the National Retail Federation’s (NRF) 2018
forecast for an increase in retail sales between 3.8% and 4.4%.
According to the NRF, January sales increased 5.4% over 2017 and
February sales increased 4.4% over 2017.
“These results reinforce the resilient nature of our market
dominant properties and ongoing consumer confidence that we saw
over the holiday season as a result of the strong economy,” said
Stephen Lebovitz, president & CEO, CBL Properties. “Sales at
CBL properties were bolstered by excellent performance at our
border properties, cold weather in the south which drove winter
merchandise sales and a healthy increase in the jewelry category.
In addition, we have evolved our marketing strategies with a
greater emphasis on highlighting key retailers and driving
increased traffic and sales at our properties.”
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and
manages a national portfolio of market-dominant properties located
in dynamic and growing communities. CBL’s portfolio is comprised of
119 properties totaling 74.4 million square feet across 27 states,
including 76 high-quality enclosed, outlet and open-air retail
centers and 12 properties managed for third parties. CBL
continuously strengthens its company and portfolio through active
management, aggressive leasing and profitable reinvestment in its
properties. For more information visit cblproperties.com.
Information included herein contains "forward-looking
statements" within the meaning of the federal securities
laws. Such statements are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual events, financial and otherwise, may differ materially from
the events and results discussed in the forward-looking
statements. The reader is directed to the Company’s various
filings with the Securities and Exchange Commission, including
without limitation the Company’s Annual Report on Form 10-K and the
"Management’s Discussion and Analysis of Financial Condition and
Results of Operations" included therein, for a discussion of such
risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20180323005502/en/
CBL PropertiesKatie Reinsmidt, 423-490-8301Executive Vice
President & Chief Investment
OfficerKatie.Reinsmidt@cblproperties.com
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