Tanger Inc. - SKT STOCK NEWS

Tanger Factory Outlet Centers (NYSE: SKT) has launched its annual Pink campaign this October, continuing its commitment to breast cancer advocacy with an investment of $18.5 million over nearly 30 years. The company partners with the Breast Cancer Research Foundation (BCRF) and supports local organizations in 37 U.S. and Canadian communities. Since 2011, Tanger has contributed $4.2 million to BCRF, funding over 84,000 hours of research. The campaign encourages shoppers to participate via the Tanger Pink Savings Card, offering discounts at participating brands.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has appointed Michael Bilerman as EVP, Chief Financial Officer, and Chief Investment Officer, effective Q4 2022. Bilerman, with nearly 25 years of industry experience and a former Managing Director at Citi, aims to enhance strategic growth initiatives and lead finance and investment operations for Tanger. His expertise is anticipated to solidify the company's market position as it transitions from a real estate company to a customer experience leader. CEO Stephen Yalof expressed confidence in Bilerman's leadership capabilities.

Tanger Outlets announced the winners of its 2022 TangerKids Grants program, allocating $160,000 to classroom investments. Over half the funding supports teacher-led initiatives for underserved schools. Since its inception, the program has donated more than $3.1 million in grants. This year, Tanger included a Member Choice poll for TangerClub members to vote on grant recipients, resulting in additional funding for the top ten projects. The inaugural TangerKids Day on September 14 will feature events recognizing grant recipients and community participation.

Tanger Factory Outlet Centers (NYSE: SKT) reported significant leasing momentum with the addition of new brands to its portfolio, including Serena & Lily and Regatta Great Outdoors. This growth reflects a focus on innovative and digitally native labels, enhancing the shopping experience for customers. Tanger's strategy aims to maintain premier locations for accretive brands while exceeding pre-pandemic sales levels. The launch of Summersalt's pop-up shop showcases Tanger's commitment to diversifying offerings and enhancing digital marketing efforts.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) will release its financial results for the quarter ending September 30, 2022, on November 2, 2022, after market close. A conference call for analysts and investors is scheduled for November 3, 2022, at 8:30 a.m. ET, accessible by dialing 1-877-605-1702. A live audio webcast will be available on Tanger's Investor Relations website, and a telephone replay will be accessible until November 17, 2022. Tanger operates 37 outlet centers across 20 states and Canada, totaling approximately 14.0 million square feet with over 2,700 stores from 600+ brand companies.

Tanger Factory Outlet Centers (NYSE: SKT) has released its sixth annual Environmental, Social and Governance (ESG) Report, showcasing its commitment to integrating ESG principles into its operations. Key highlights include efforts to establish a diverse workforce, support small minority- and women-owned businesses, and enhance employee well-being through improved health benefits. Additionally, the company donated over $740,000 to community charities in 2021 and produced 6.2 million kilowatt hours of solar energy. The report underscores Tanger's dedication to responsible corporate citizenship and sustainable practices.

Tanger Factory Outlet Centers (NYSE:SKT) reported strong financial results for Q2 2022, with net income of $0.19 per share, improving from $0.02 per share a year prior. Funds From Operations (FFO) rose to $0.45 per share, up from $0.30, reflecting a successful leasing strategy and increased occupancy to 94.9%. The company raised its guidance for the year, estimating diluted net income between $0.71 and $0.77 per share and FFO between $1.73 and $1.79. Key developments include breaking ground on a 290,000 square foot center in Nashville, expected to yield 7.0%-7.5%, and a strategic partnership in Palm Beach.

Tanger Factory Outlet Centers (NYSE: SKT) announced a partnership with Clarion Partners for the Palm Beach Outlets, rebranding it as Tanger Outlets Palm Beach. The partnership enhances Tanger's management capabilities and is expected to significantly benefit local retail partners. Effective July 29, 2022, Tanger will oversee marketing, leasing, and property management of the 455,000 sq ft center, a popular shopping destination in South Florida attracting millions of visitors annually. This marks Tanger's 38th center and second in Florida, continuing its commitment to community engagement and strong operational strategies.