J.C. Penney's Johnson Hire a Big Deal for Simon Property

Wed, 06/15/2011 - 15:50 EDT - Seeking Alpha

Dana Blankenhorn submits: Whenever I go shopping I look over at the nearest mall. In Atlanta, that's often a Simon Property Group (SPG) mall. What I usually see is an immense expanse of parking next to not very much. That "big box" retailers have been killing malls for years is not news. Most of the big mall owners have been actively looking for a way out of that box . Some have tried outlet centers, some have tried renting to big box operators like Costco (COST), others are looking at street-level retail. Of all the mall owners Simon seems to be most tied to the traditional mall. Malls are failing because their hearts, the "anchor tenants," like Sears (SHLD), Macy's (M) and J.C. Penney (JCP), have been stuck in the middle market, squeezed from the top by company-owned specialty retailers and from the bottom by WalMart (WMT), Target (TGT) and the warehouse stores.Complete Story »

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J.C. Penney's Johnson Hire a Big Deal for Simon Property

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