Tanger Factory Outlet Centers Inc. is flexing with the times.
“The client profile since COVID-[19] has completely modified,” said Stephen Yalof, president and chief executive officer, in an interview with WWD after the outlet center operator reported stronger first-quarter results.
“Loads of people have gotten a bit bit more online-savvy,” Yalof said. “That has actually worked to our advantage.”
Where people used to take more “window-shopping” trips, he said they are actually on a mission, having gone online to research the products they need and the stores they plan to go to.
Yalof said traffic has grown slower than sales recently, but that sales productivity is up greater than 15 percent since 2019.
“We’re producing more value on a per-unit basis than we had pre-COVID[-19],”...
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