Tanger Outlets Closes Out 2009 and Rings in the 2010 Shopping Season
Tanger Outlet Centers Across the U.S. Post Higher Traffic Statistics
GREENSBORO, N.C., Jan. 6, 2010 (GLOBE NEWSWIRE) -- Sleigh bells rang and so did cash registers as Tanger Outlet Center shoppers across the U.S. braved snowstorms and the economy to make the 2009 holiday shopping season a success.
Tanger Outlet Centers gave holiday gift buyers a head start on their After Thanksgiving shopping at the stroke of 12 midnight on Thanksgiving November 26th. Across the country, generations of families and friends shopped together, many in their pajamas, as it kicked off its 4th Annual Midnight Madness and After Thanksgiving Weekend Sale.
"This holiday season, our stores had the right merchandise at the right prices," remarked Steven B. Tanger, President and Chief Executive Officer for Tanger Factory Outlet Centers, Inc. "The overwhelmingly positive statistics coming in from our Centers across the U.S. say that shoppers were looking for values and the best bang for their buck as they ticked off the items on their shopping lists for families and friends. The phenomenal increase in traffic and sales makes us optimistic as we move into 2010. As we track towards Valentine's Day and the spring and Easter buying season along with the start of the wedding and graduation gift seasons, Tanger Outlet Centers will continue to give shoppers guaranteed savings direct from their favorite brand name manufacturers and designer outlet stores."
"As predicted by the National Retail Federation, 2009 was the holiday shopping season of the bargain hunter. Despite the adverse weather conditions, including ice storms and blizzards that closed a number of our Centers in many parts of the country leading up to December 24th Tanger Outlet Centers across the country saw many statistical commonalities," he added.
Shoppers used cash and debit cards consistently more than credit cards in most of Tanger Centers. Hot items this year fell firmly into the practical column with sales of fleece, boots, sweaters, outerwear, shoes and handbags leading the way along with bargain stocking stuffers and scarves as equally popular items. Tanger gift cards, the perfect gift that always fits, rose an astonishing 18-42% in some of our Centers for the month of December (spiking to 56-78% in the last week of December) over last year, fueled in part by the wildly popular PJ Moose promotion.
Overall Tanger gift card sales rose during the November and December Holiday Season by 10.5%, and Tanger's on-line sales of gift cards, which will be used at the center level, grew by 12% over the previous year. These increases will help to stimulate additional sales in January and throughout the 1st quarter as these gift cards are redeemed at the centers.
"Tanger Outlet Centers were where groups of people shopped together this holiday season -- less cars, more people - getting into the holiday spirit and purchasing more gifts than last year for their loved ones, a pure indication that outlet shopping continues to be the retail venue of choice. The Tanger Outlet Center shopper was also very particular about the stores they favored this holiday season and our Centers are filled with the most popular stores, with some shoppers traveling over 40 miles to shop at one of our Centers, with the best brand names for gift giving," added Steven B. Tanger.
Traffic, the number of shoppers in a Tanger Outlet Center during a given period, rose dramatically during the holiday shopping period over last year. For the month of December, regions such as Deer Park, NY saw traffic rise by 10%, Howell, MI 11%, Park City, UT 16%, Pittsburgh, PA 37%, Tuscola, IL 25% and Wisconsin Dells, WI 9%, all reporting positive gains for the period as compared to last year.
Overall, the holiday period was up by nearly 5% for the entire Tanger Outlet Center portfolio. This trend confirms that outlet shopping continues to be a smart choice for today's consumer.
Tanger Factory Outlet Centers, Inc., (NYSE:SKT) a publicly traded REIT, presently has ownership interests in or management responsibilities for 33 shopping centers in 22 states coast-to-coast, totaling approximately 10.2 million square feet, leased to over 2,200 stores that are operated by over 400 different store brands.
CONTACT: Tanger Factory Outlet Centers, Inc.
Mike Buescher
(336) 834-6826
Released January 6, 2010