DAVID SIMON PROPERTY FULL

“The lower income consumer is tightening their belt, and we do have a few brands that are affected by that,” Simon said on the earnings call. SPARC Group’s portfolio also includes Aeropostale, Brooks Brothers, Forever 21, Lucky Brand and Nautica. So, too, did Simon’s investment in Reebok, which it oversees as part of SPARC Group, a partnership it formed with Authentic Brand Groups in 2017. However, the JCPenney Beauty expansion took a hit on Simon’s results this quarter, Simon acknowledged in the earnings call. Since launching as a pilot in 2021, JCPenney Beauty has onboarded nearly 100 new brands, more than 60 of which are BIPOC- and/or female-founded, according to a press release.

In September, it said it would expand its JCPenney Beauty concept across the United States from 10 brick-and-mortar locations to 300 stores by early 2023 and 600 stores by spring 2023. JCPenney has announced some changes this fall. But at the same time, there’s not a very compelling brand story to JCPenney.” They are part of the overall growth of physical business. “ They’re not doing badly compared to the way they were doing before. Right now, JCPenney’s strategy is to “get more earnings out of their existing stores and their website,” Dave Marcotte, SVP of Global Retail and Technology at Kantar, told Modern Retail. JCPenney estimates its revenue for the 2022 fiscal year will total $9 billion, up 10% from 2021 but down 16% from 2019, according to the Wall Street Journal. It now has 650 stores across the majority of U.S. JCPenney closed 175 locations in 20 because of the pandemic. At the time it filed for bankruptcy, the company had $5 billion in debt. JCPenney was one of the earliest companies to offer items online in the 1990s but struggled to keep up with the quickly-changing retail landscape. Simon and Brookfield Property Partners made headlines in 2020 when they acquired JCPenney for $800 million. It currently operates 400 retail centers in 24 countries including Japan and France and holds a 22.4% interest in the European mall operator Klépierre. Simon has a robust portfolio of shopping, dining and entertainment properties that spans everything from regional malls and hotels to Premium Outlets and The Mills. “And so even though we may slow down next year or even into the holiday season, I don’t think the growth from our existing business is going to slow down, because the demand for new deals and space is there.” That’s where the return on investment is,” David Simon, CEO, chairman and president of the company, said in the earnings call this week. Home features generator, highly rated school system all close to NYC and new Closter Plaza with high end shops and restaurants.“We feel really good because physical retail is where the action is. Newly refinished gunite pool w/ spa create a private backyard oasis. Third floor is finished with gym and ample storage.

DAVID SIMON PROPERTY FULL

Second floor features vaulted ceiling master suite with new double vanity bathroom & 2 separate walk in closets & fireplace, 3 additional bedrooms, laundry and full bath complete second floor. Large living room and banquet sized dining room welcome guests, bright and white chef's kitchen is an entertainer's delight featuring commercial sub zero refrigerator, built in Miele coffee maker, wine fridge, ice maker, 3 dishwashers, double oven and door to deck, media room with full bath and custom mahogany paneled family room w/ wet bar, ice maker, fireplace & access to deck and pool complete the first floor.

No expense spared in the recent renovation using the finest materials and craftsmanship. Traditional meets transitional on the east hill of Norwood. David is Board Chair of the North New Jersey Chamber of Commerce (formerly the Englewood Chamber of Commerce) and is active in Breast Cancer and Diabetes charities. With his home improvement license, his company has bought, improved and resold scores of homes in the area. The project was approved for a 96 unit apartment complex and is playing a vital role in revitalization of the downtown area.Īs a licensed broker, he has generated millions of dollars in sales. Today, he and his wife Ann have sold their approved project at 15 South Dean Street in Englewood, NJ. David is well known in North Bergen County communities such as Tenafly, Alpine, Cresskill, Demarest, Englewood Cliffs, and Englewood. His family has been instrumental in developing income-producing properties throughout the area. He was the third generation owner of Mitchell Simon Hardware, a company his grandfather started 80 years ago. David is a lifelong resident of Bergen County with deep family roots in Englewood, NJ.

David simon property