David Simon on consumer spending
From Simon Property Group Inc Q2 2022 Earnings Call · · AlphaStreet
“the higher income consumer is still spending money and if anything i think if you go back in history our business and our industry actually tend to outperform during recessionary environments”
On , David Simon, Chairman, Chief Executive Officer & President at Simon Property Group Inc, spoke about consumer spending during Simon Property Group Inc Q2 2022 Earnings Call on AlphaStreet.
About David Simon
David Simon, chairman, CEO, and president of Simon Property Group, discussed the impact of tariffs on the company’s business during the Q2 2025 earnings call, stating that tariffs are a “real cost to doing business” and that “the only consistent thing about tariffs is that they’ve been consistently changing.” He expressed agreement with President Trump’s view that interest rates should be lower, saying, “It should be 4% by the way. I agree with President Trump.” Simon also asserted that the market “absolutely, unequivocally misprices big enclosed center shopping centers,” citing cash flow growth and longevity. On the Q3 2025 earnings call, Simon reiterated that tariffs will have an impact, adding, “We have not yet seen all of it. I think if I had to put an inning on it, I’d say five, six.” He noted that retail demand remains “unabated” and that the physical shopping environment “continues to be the place to be.” Simon highlighted new store openings by Meta, Google, and Netflix at Simon properties, and emphasized that value is important for consumers across income levels. He also compared the stability of malls to data centers, stating, “What we do know is that good malls have been around 70 years. Not seven years, not 17 years, but 70 years.”