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News, North America

Mall owner Simon Property reports 24% fall in revenue

(Corrects to remove reference to analysts’ estimates in second paragraph)

Aug 10 (Reuters) – America’s largest mall operator Simon Property Group Inc on Monday reported an about 24% fall in quarterly revenue, hurt by unpaid rent dues as several retailers suffered from store closures due to the COVID-19 pandemic.

Total revenue for the second quarter ended June 30 stood at $1.06 billion.

Net income attributable to the company’s shareholders fell to $254.2 million, or 83 cents per share, from $495.3 million, or $1.60 per share, a year earlier. (Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath)

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