“And I think we'll outperform our initial guidance of 2%, but that's nothing other than that or normal seasonality of the business, Craig.”

In context

“ger consumer that suddenly gas has taken a lot out of the pocket book. Operator: Our next question is from Craig Schmidt with Bank of America. Please proceed with your question. Craig Schmidt: Domestic same-store NOI was up 3.6% compared to 7.5%. It looks like a lot of it was due to the tougher comps in second quarter. And in that case, it seems like the comps only get more difficult third and fourth quarter. Is that why the same-store number might actually be going down for the second half of the year? Or is it the macro factors? David Simon: No. I mean, Craig, we were really clear. We're actually outperforming what we thought. We -- Q1 of last year had the big benefit of going up against COVID, right? So now we were really, really clear what we saw overall, and we've been outperforming. And I think we'll outperform our initial guidance of 2%, but that's nothing other than that or normal seasonality of the business, Craig. Yes. I mean this is better than our plan and is consistent with our plan, even though the trend is above our plan. Craig Schmidt: So your leasing year-to-date, if you will, is strong enough that you think that -- has it continued in July? And do you think you could continue despite some of the macro factors? David Simon: Well, I've said that several times. Yes, the answer is we have not -- our pipeline is as strong as it's been. We're doing a bunch of new deals. Now Craig, you know when you sign a lease, the store doesn't open tomorrow in a lot of cases. And this is really, really important for everyone to understand, we're very optimistic because a lot of the leasing that we've done really doesn't open until '23, '24. So not only are we outperforming our budget this year off a strong las”