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Tanger Reports 5% Sales Growth Driven by World Cup Tourism in June-July

GateNews
Stocks
NKE-2.33%
According to CEO Stephen Yalof on CNBC, Tanger Inc. saw traffic and sales increase during June and July, driven by international and domestic tourism tied to the World Cup. The company operates shopping centers in eight of the 11 host cities for the tournament. For the year, Tanger reported approximately 5% sales growth, with athletic brands performing particularly strongly. Yalof noted that World Cup visitors were attracted to experiencing American retail brands such as Polo, Michael Kors, and Nike at outlet prices, alongside dining and entertainment options within Tanger centers. The company strengthened its performance through enhanced marketing initiatives, contributing to second-quarter results reported on Tuesday.
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