At Least Taubman Has a Good Attitude

Mall owner Taubman Centers recently put out its annual Black Friday survey, and it almost sounds hopeful. About 8,000 people responded to the online poll at its malls’ websites, and nowhere is there mention of a recession.

While only 9% said they would spend more than last year’s Black Friday, an impressive 60% said they planned to spend the same amount. On average people will spend $400 on the biggest holiday shopping day, while 42% said they’d continue to shop through the rest of the weekend.

One of our colleagues, when referring to the survey said, “We’ll you’d have a positive outlook too, if you owned Beverly Center!” Maybe we would.

During Taubman’s latest quarter, which was reported late last month, FFO, occupancy, sales and rents were all up from the same period last year.

We’ve heard a lot about how hard luxury retail is getting hit in the current economy, but will Taubman’s high-end portfolio continue to remain recession proof?

1 Response to “At Least Taubman Has a Good Attitude”

  1. 1 kin powell November 14, 2008 at 12:26 pm

    Not the first time Bobb’s whistled by the graveyard!

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