Kimco CEO: High Renewal Rate, Thriving Retailers Driving Shares

The shopping center business is thriving due to less supply hitting the market and confident consumers, said David Henry, CEO of the Kimco Realty Corporation. Henry added that shopping center traffic has been strong over the long holiday season, despite a mediocre Black Friday. He said Kimco has received a boost from its fast casual dining lessees especially Panera and Chipotle. Henry said his biggest concern is a spike in interest rates, however, he says this is not an immediate threat because the Federal Reserve seems to be on pause at the current time. Finally, Henry said Kimco will continue to prune its holdings in the coming year.