CLAIM #54486 · SPG (SPG) · 2023Q2 earnings call · Aug 2, 2023 · due Dec 31, 2024
“David Simon: I would hope so, yes.”
David Simon · CEO
In context
“in the second half – so we're actually optimistic. And I think generally, the economy, as we all know, is seems to relatively stable. Obviously, it's a very uncertain world. So anything can happen. But we're actually optimistic on sales for the second half, and we expect it to comp up on – with respect to bad debt, we're not seeing – I mean it continues to be lean and mean – and it's a little more than maybe last year, but it's like – it's still comparatively historical lows. Haendel St. Juste: Okay. Thank you. David Simon: Thank you. Operator: Thank you. And our next question comes from the line of Linda Tsai with Jefferies. Please proceed with your question. Linda Tsai: Hi. Thanks for taking my question. In terms of 3% NOI growth, is that the level you think you could sustain next year? David Simon: I would hope so, yes. Linda Tsai: Any color around that? David Simon: Not one of my qualities, but that was the most succinct answer that all day. Do you have another question, Linda? Linda Tsai: Sure. I guess on Page 19, you also broke out mixed-use in franchise operations income and also the same line item for expense. Maybe just a little more color? David Simon: Yes. I think Brian and Tom felt because we're doing – and these are only consolidated assets, so we have a – we have a big franchise operation with Starbucks in terms of our – where we franchise some Starbucks location plus, obviously, we're building hotels. And the – and it was all lumped into the other income, other expense, and we thought instead of having all the questions on why is this number growing and this number growing? We kind of – we ju”
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SEC filings for SPG ↗ · Claim quote is verbatim from the 2023Q2 earnings call.