Tanger CEO says World Cup drove up traffic, sales this summer

Key Points:

• Tanger CEO Stephen Yalof reported increased traffic and sales in June and July, driven by international and domestic tourism linked to the World Cup, with the company seeing about a 5% sales increase for the year.
• The company’s shopping centers, located in eight of the 11 World Cup host cities, benefited from tourists seeking a "real American experience," including dining options like Chick-Fil-A and value shopping at outlet centers featuring brands such as Polo, Michael Kors, and Nike.
• Tanger aims to leverage the World Cup-driven summer traffic to build long-term customer loyalty, noting that its centers offer a combination of retail, food, beverage, and entertainment that encourages customers to stay longer and return.
• Domestic travel also contributed to increased traffic as more Americans chose to travel within the country amid rising oil prices and geopolitical factors.
• Strong second-quarter results were supported by enhanced marketing, traffic-driving initiatives, and a robust movie business, which helped create a positive customer experience and sustained foot traffic.