Macerich’s ‘Give Back for Back to School’ Program in Full Swing

Rhea-AI Summary

Macerich, a leading retail property company, is launching its second annual 'Give Back for Back to School' program to support underserved students. Last year's program benefited over 20,000 students through fundraising and supply drives. Macerich properties partner with local nonprofits to provide assistance. The company is optimistic about the upcoming back-to-school season, as consumer confidence is high and back-to-school spending is expected to reach $41.5 billion.

Positive

• Macerich's 'Give Back for Back to School' program aims to support underserved students through fundraising and supply drives.
• Last year's program benefited over 20,000 students nationwide.
• Macerich properties partner with local nonprofits, including Big Brothers, Big Sisters, Boys & Girls Clubs, and United Way.
• Consumer confidence is high, which contributes to the company's optimism for a strong back-to-school season.
• Back-to-school spending is expected to reach $41.5 billion, up from $36.9 billion in 2022.

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• None.

Last Year’s Inaugural ‘Give Back for BTS’ Program Impacted 20,000+ Students Nationwide

Retail Property Leader Heads into a Key Shopping Season with Optimism

SANTA MONICA, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets, today shared details about its second annual “Give Back for Back to School” program, already underway, benefiting underserved students in its communities.

Incorporating every property in the Macerich portfolio, as well as all corporate offices, “Give Back for BTS” supports local nonprofits with fundraising and back-to-school supply drives to help local children in need have a brighter return to school. Last year’s inaugural national program involved more than 80 local organizations and benefited more than 20,000 students.

“At Macerich, beyond being places of commerce, we are committed to being properties with purpose that make a positive difference in our communities,” said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People at Macerich. “The back-to-school season is an important time of year for children everywhere, and it is our privilege to help underserved students in our markets with the items they need for a great start to the school year.”

For “Give Back for Back to School,” Macerich properties select their own local nonprofit partners – ranging from local chapters of Big Brothers, Big Sisters, Boys & Girls Clubs and United Way to local foster care organizations, schools, homeless shelters and more.

“This July, consumer confidence reached the highest level it’s been in two years – and this only adds to our optimism for a strong back-to-school season at our well-situated properties in densely populated, urban and suburban markets across the country,” added Leigh. Last month, the National Retail Federation (NRF) released its Annual 2023 Back-to-School Survey, which noted that back-to-school spending is expected to reach an unparalleled $41.5 billion, up from $36.9 billion in 2022.

About Macerich
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for eight consecutive years (2015-2022). For more information, please visit www.Macerich.com.

Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.

MAC-C
SOURCE: Macerich

MEDIA CONTACT: Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

FAQ

What is Macerich's 'Give Back for Back to School' program?

Macerich's 'Give Back for Back to School' program is an annual initiative that aims to support underserved students by partnering with local nonprofits for fundraising and supply drives.

How many students were impacted by last year's program?

Last year's program benefited over 20,000 students nationwide.

Which organizations does Macerich partner with for the program?

Macerich properties partner with local nonprofits, including Big Brothers, Big Sisters, Boys & Girls Clubs, and United Way, among others.

What is the outlook for the upcoming back-to-school season?

Macerich is optimistic about the back-to-school season due to high consumer confidence and expected back-to-school spending of $41.5 billion.

How much is back-to-school spending expected to reach?

Back-to-school spending is expected to reach $41.5 billion, up from $36.9 billion in 2022.