CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that 2018 kicked off with strong January and February sales. Sales per square foot in CBL’s portfolio for reporting tenants under 10,000 square feet increased 5.6% for the two months ended February 28, 2018, putting it on-track to exceed the National Retail Federation’s (NRF) 2018 forecast for an increase in retail sales between 3.8% and 4.4%. According to the NRF, January sales increased 5.4% over 2017 and February sales increased 4.4% over 2017.
“These results reinforce the resilient nature of our market dominant properties and ongoing consumer confidence that we saw over the holiday season as a result of the strong economy,” said Stephen Lebovitz, president & CEO, CBL Properties. “Sales at CBL properties were bolstered by excellent performance at our border properties, cold weather in the south which drove winter merchandise sales and a healthy increase in the jewelry category. In addition, we have evolved our marketing strategies with a greater emphasis on highlighting key retailers and driving increased traffic and sales at our properties.”
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 119 properties totaling 74.4 million square feet across 27 states, including 76 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties. CBL continuously strengthens its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the "Management’s Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.