Additionally, portfolio occupancy improved sequentially and from the prior year to 91.3% and we anticipate closing the year to 93%. As a result of this positive momentum, we are increasing our guidance for this year for both FFO and NOI. While headline news has diminished confidence in the economy, the reality is that the consumer is shopping and retail sales are growing. Retailers are expanding their store counts and our portfolio has been benefiting from new store openings both new concepts and existing retailers. We recently announced a new American Girl store opening at Chesterfield Mall in St. Louis in the spring of 2012.At West Towne Mall in Madison, Wisconsin, we opened Dry Goods owned by Von Maur, one of only four openings for this new juniors’ concept. We also opened new mall stores for also Alta, J. Crew, Carters, (indiscernible) and many others. Restaurants boxes in theaters are opening at our malls. Later this week, Cinemark is opening a new state-of-the-art theater at Stroud Mall in Stroudsburg, Pennsylvania. Retailers have generally capped a long-term deal on their businesses and are going forward with store expansion plans.
CBL & Associates Properties' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.