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Simon Property Group (SPG) Q2 2020 Results - Earnings Call Transcript

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Simon Property Group, Inc. (NYSE:SPG) Q2 2020 Earnings Call August 10, 2020 5:00 PM ET


Thomas Ward - Simon Property Group, Inc.

David E. Simon - Simon Property Group, Inc.


Caitlin Burrows - Goldman Sachs & Co. LLC

Alexander Goldfarb - Piper Sandler & Co.

Richard Hill - Morgan Stanley & Co. LLC

Haendel St. Juste - Mizuho Securities USA LLC

Michael W. Mueller - JPMorgan Securities LLC

Ki Bin Kim - Truist Securities

Linda Tsai - Jefferies LLC

Nicholas Yulico - Scotiabank

Derek Johnston - Deutsche Bank Securities, Inc.

John P. Kim - BMO Capital Markets Corp.

Vince Tibone - Green Street Advisors

Floris van Dijkum - Compass Point Research & Trading LLC

Michael Jason Bilerman - Citigroup Global Markets, Inc.


Ladies and gentlemen, thank you for standing by, and welcome to the Q2 2020 Simon Property Group Incorporated Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Mr. Tom Ward, Senior Vice President, Investor Relations. Please go ahead.

Thomas Ward - Simon Property Group, Inc.

Thank you, Robert, and thank you for joining us today. Presenting on today's call is David Simon, Chairman, Chief Executive Officer and President. Also, on the call are Brian McDade, Chief Financial Officer; and Adam Reuille, Chief Accounting Officer.

Before we begin, a quick reminder that statements made during this call may deemed forward-looking statements within the meaning of the Safe Harbor of the Private Securities Litigation Reform Act of 1995 and actual results may differ materially due to a variety of risks, uncertainties, and other factors. We refer you to today's press release and our

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Comments (14)

David Simon is always entertaining in the earnings calls.
He doesn't like people wasting his time.
theheckwithtech profile picture
In case anyone wants to track the daily foot traffic on the Top 10 Malls (8 of which are owned by SPG), you can go to this link: graphics.reuters.com/...
I think if amazon was to do a deal with Simon the best case is fulfilling the mall retail itself as a committed part of the deal. That would in my mind create a win-win. Otherwise it doesn’t make sense. Whole Foods and a few other select essential grocer or other products mixes will be a plus in the long run going forward as well. We will see how this shakes out but still looks good to me going forward as I read the report and commentary.
I like the shopping days construct that Simon uses. Lost 10,500 shopping days during the quarter when there are 90 days in a quarter. That's very intellectual and insightful into mall operations. I'd like to know the difference between shopping days and business days.
Kurt, that total might be a multiplication of all their locations times 90.
Besides Amazon as a potential tenant, wondering if IKEA would also be a good candidate to use some of the malls largest spaces.

Using the spaces as convention centers for products and services exhibits that are more affordable than those in Las Vegas and such might also be a good option. Product fairs catering both to the public and businesses.
OlafurKG profile picture
Is Amazon non the table?
They are not commenting...so maybe yes, maybe no. My guess is yes, though I haven’t concluded on if it’s a good thing or a bad thing.
@OlafurKG I could see them putting Whole Foods in malls. Would be closer to residences and help with getting food/perishables delivered quickly plus would bring foot traffic to malls so win/win for SPG and AMZN.
Hard to imagine a grocery store fitting into a mall.
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