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Tanger Inc. (NYSE: SKT) is a prominent owner and operator of outlet and open-air retail shopping destinations, headquartered in Greensboro, North Carolina. Established over 43 years ago, Tanger has built a robust portfolio that includes 38 outlet centers, one adjacent managed center, and one open-air lifestyle center, comprising over 15 million square feet across 20 U.S. states and Canada. Renowned for offering first-quality, in-season merchandise, Tanger Outlet Centers attract over 180 million savvy shoppers annually, making them major tourist attractions.
Tanger Inc.'s business model focuses on providing the latest fashion trends from top brand names and designer outlets directly from manufacturers, ensuring consumers enjoy significant savings. The company's innovative approach to retail includes diversifying tenant mix and enhancing the shopping experience, leading to the operation of over 3,000 stores by more than 700 different brand name companies.
As a publicly traded Real Estate Investment Trust (REIT) since 1993, Tanger has been a pioneer in the retail outlet industry. The company continually adapts to market trends and consumer behavior, ensuring sustained growth and relevance in a competitive market. With a solid balance sheet, strategic partnerships, and a commitment to long-term growth, Tanger Inc. remains well-positioned to unlock additional value for all stakeholders.
Recent achievements include the amendment and extension of its unsecured lines of credit, enhancing financial flexibility and reducing interest expenses. Tanger has also been recognized with the 2024 Nareit Investor CARE Gold Award, highlighting its excellence in investor communications and transparency. Additionally, the company reported a positive financial outlook and operational metrics for the first quarter of 2024, including a 6% dividend increase and robust leasing activity.
Looking ahead, Tanger Inc. aims to continue its strategic focus on portfolio enhancement, tenant diversification, and innovative retail experiences. The company's proactive approach to financial management and investor relations ensures a strong foundation for future growth and value creation.
On September 30, 2020, Tanger Factory Outlet Centers (NYSE: SKT) launched its 27th annual Tanger Pink campaign to support breast cancer research. Running from October 1 to 31, the campaign offers shoppers a digital Pink Savings card providing 25% off at participating stores. Proceeds will benefit the Breast Cancer Research Foundation and local organizations. In 2019, Tanger raised $935,000 for breast cancer research. The campaign aims to provide a safe shopping experience amid COVID-19, including the option for a virtual 5K race during the week of October 11.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for Q3 2020 on November 5, 2020, after market close. A conference call for analysts and investors will be held on November 6, 2020, at 8:30 a.m. ET. Listeners can access the call by dialing 1-844-492-3729 or via a live audio webcast on Tanger's Investor Relations website. A replay of the call will be available from November 6 to November 20, 2020.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) reported positive developments in liquidity and operations as of August. The company generated positive cash flow, fully repaid its unsecured credit lines, and maintained a liquidity of approximately $606.6 million. Rent collections improved to 85% of billed rents, up from 81% in July. Occupancy stood at 93.7%, with traffic averaging 89% of prior year levels. Tanger will participate in the Bank of America Securities Real Estate Virtual Conference on September 15-16, 2020.
Tanger Factory Outlet Centers (NYSE: SKT) will close on Thanksgiving Day 2020 amid the COVID-19 pandemic, prioritizing the well-being of shoppers and employees. Beginning November 1, Tanger will enhance holiday shopping experiences with special sales and extended hours. The company aims to provide a safe shopping environment through in-person, curbside pickup, and a Virtual Shopper Concierge service. With over 39 years in the outlet industry, Tanger operates 38 centers across 20 states and Canada, renting about 14.1 million square feet to over 2,700 stores.
Tanger Factory Outlet Centers (NYSE:SKT) has announced a partnership with HeadCount to enhance voter registration among young people. On September 5, Tanger will host voter registration stations at 24 locations across the U.S., transforming its shopping centers into civic engagement hubs amidst the COVID-19 pandemic. Stephen Yalof, COO, emphasized the importance of supporting democracy by facilitating a seamless registration process outdoors. HeadCount, known for its grassroots efforts, aims to engage potential voters ahead of the November election.
Tanger Factory Outlet Centers (NYSE: SKT) announced its financial results for Q2 2020, reporting a net loss of $0.25 per share, a stark contrast to net income of $0.15 per share in Q2 2019. The pandemic significantly impacted operations, with rent collections improving in July. Tanger maintains a strong liquidity position with over $564 million available. Despite challenges, occupancy stands at 93.8%, and management is optimistic about new tenants and innovative offerings like the Tanger Virtual Shopper™. The company has temporarily suspended dividends to conserve cash during this period.
Tanger Factory Outlet Centers, Inc. announces the 2020 TangerSTYLE sale, encouraging back-to-school shopping with family-friendly discounts. The event features fashion deals across multiple brands, emphasizing safety protocols like social distancing and face coverings at their outlets. CEO Steven B. Tanger reassures shoppers of a secure shopping experience, whether in-store or via the Virtual Shopper service. This year's sale includes options for kids' styles and workwear for parents, alongside tips for budget-friendly shopping.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for the quarter ended June 30, 2020, on August 5, 2020, after market close. A conference call for analysts and investors is scheduled for August 6, 2020, at 8:30 a.m. ET, accessible via phone or live audio webcast. A replay of the call will be available from August 6 through August 20, 2020.
The company operates 39 outlet shopping centers across 20 states and Canada, attracting over 181 million visitors annually.
Tanger Factory Outlet Centers, Inc. announced the launch of a new Virtual Shopper program, allowing customers to shop remotely through personal associates. This initiative is designed to enhance customer engagement and drive sales for retail partners amid the ongoing COVID-19 pandemic.
Consumers can fill out a virtual shopping form detailing their preferences, with associates shopping on their behalf. The service is available at no cost and includes options for curbside pick-up or home delivery, covering Tanger's extensive portfolio across the U.S. and Canada.
SYNLawn and Tanger Factory Outlet Centers have announced a partnership to enhance summer experiences for families by introducing putting greens at 33 locations across the U.S. and Canada from June through September. The 'Summer Fun Fore All' events will feature the Dave Pelz GreenMaker, a premium putting green retailing at $1,799, developed for golfers of all ages. Safety measures, including social distancing and sanitization, are in place due to COVID-19. This collaboration aims to improve family engagement and foot traffic in Tanger Outlets, which attracts over 181 million visitors annually.
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