Lining up a chart of Simon's top 10 tenants from 1993 with the top 10 today (slide 8), Simon notes six of 1993's top 10 are no longer in business, but SPG keeps rolling along, with stockholder returns of 2,350% since the 1993 IPO.
http://seekingalpha.com/news/1973545-notes-from-simon-propertys-barclays-presentationNot sure how well this info paste will go, but first set is the 1993 retailers, second set today. People talk about the difficulty of investing in tech due to "fads" and evolution over time, I think retail is similar in some regards - tastes change and things evolve.
Limited 156 1,126 2.1% 5.7% The Gap 365 3,740 2.0% 3.5%
F.W. Woolworth 206 642 1.2% 3.5% L Brands 300 1,779 1.0% 2.2%
Melville Corp. 135 442 0.8% 2.1% Signet Jewelers 418 612 0.3% 1.7%
United States Shoe 109 390 0.7% 2.0% Abercrombie & Fitch Co. 186 1,322 0.7% 1.5%
Edison Brothers 110 217 0.4% 1.1% PVH Corporation 273 1,481 0.8% 1.5%
The Musicland Group 56 179 0.3% 1.1% Forever 21 82 1,330 0.7% 1.4%
Petrie Stores Corp. 66 346 0.6% 1.1% American Eagle Outfitters 178 1,138 0.6% 1.2%
Zale Corp. 78 112 0.2% 1.0% Luxottica Group S.P.A. 388 701 0.4% 1.2%
Kmart Corp. 47 173 0.3% 1.0% Foot Locker 248 983 0.5% 1.1%
Payless Shoe Stores 56 177 0.3% 0.9% VF Corporation 230 1,180 0.6% 1.1%
Total 6.9% 19.5% Total 7.6% 16.4%
