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Chattanooga, Tenn.-based mall developer enjoys increased funds.
Chattanooga Times/Free Press (Chattanooga, TN)
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August 03, 2005 |
COPYRIGHT 2007 Chattanooga Times/Free Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
Aug. 3--Consumers appear to have shrugged off higher gas prices and continued to shop at the mall this spring, boosting same-store sales and revenues for CBL & Associates Properties Inc.
The Chattanooga-based shopping center developer reported Tuesday that funds from operations rose 21 percent in the second quarter to $83.2 million. On a per share basis, funds from operations were up 18.3 percent over last year to reach 71 cents.
The results beat the consensus estimate among analysts by a penny per share and CBL officials Tuesday raised their expectations for the balance of 2005.
"The current healthy retail environment is having a very positive …
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Source: HighBeam Research, Chattanooga, Tenn.-based mall developer enjoys increased funds.