Mall owner Simon Property revenue disappoints as pandemic cuts shopping days

America's largest mall operator Simon Property Group Inc missed Wall Street estimates for revenue and profit on Monday, hurt by unpaid rent from retailers due to the COVID-19 pandemic that also led to a loss of 10,500 shopping days.

Simon, which operates about 200 U.S. properties and houses brands such as Gap, Nordstrom, Brooks Brothers, Macy's, and J.C. Penney, is struggling as some of its clients have either filed for bankruptcy or are fighting to stay afloat while the pandemic continues to ravage their businesses.Online retailer Amazon.com Inc and Simon have been in talks to convert some department stores in malls into distribution hubs, the Wall Street Journal reported earlier in the day.

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