Analyst: Not Enough Demand for Two Outlet Malls in Chesterfield
A financial analyst with investment website Seeking Alpha called the competition between Taubman Prestige Outlets and St. Louis Premium Outlets a gamble with no clear victory.
With the battle for outlet mall supremacy in Chesterfield heating up, some financial analysts are doubting assertions that there is enough consumer demand to support success for both projects. Writing in investment website Seeking Alpha, Brad Thomas called it “a gamble” by both Taubman Centers (Taubman Prestige Outlets) and Simon Property Group (St. Louis Premium Outlets) that is being waged “with no clear victorious outcome.” While acknowledging that the market may be underserved, Thomas said there simply isn’t enough demand to support the combined 800,000 square feet of retail space that will open in August. Thomas comments were in light of a recent earnings conference call held by Taubman, in which executives with the companies defended…
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Michael V
8:45 am on Friday, May 10, 2013
What I would expect in a flood plain is corn, maybe baseball or soccer fields. more ›