Greensboro-based Tanger Factory Outlet Centers Inc.
said its net income available to common shareholders during the third
quarter increased 23 percent to $15.1 million, up from $12.3 million
during that time period a year ago.
The company (NYSE: SKT) also said its total revenues increased to
$90.4 million in the third quarter, up from $83.2 million during that
time period a year ago.
Steven B. Tanger,
president and CEO of Tanger, said in a statement that the company’s
core portfolio of properties continues to produce strong growth, with
comparable tenant sales increasing 7 percent during the third quarter
and 5.4 percent for the year ending Sept. 30.
Other third quarter highlights include an announcement by Tanger that it will develop a 350,000-square foot outlet center in Charlotte
that is expected to add more than 900 jobs once open. It will mark the
fourth outlet center for Tanger in North Carolina and follows Tanger’s
opening of its Mebane site in November 2010.
The company also announced that it partnered with RioCan Real Estate Investment Trust to acquire two outlet centers in the Montreal area.
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