Brixmor Property Group owns and operates retail centers that include TJ Maxx, Kohl's, and Burlington. Jim Taylor, the CEO of Brixmor, sat down with TheStreet's J.D. Durkin to delve into how these retailers are faring amid the crucial holiday shopping season.
Full Video Transcript Below:
J.D. DURKIN: Brixmor has property that is home to a lot of big name retailers. We're talking TJ Maxx, Burlington, Kohl's, just to name a few. Jim, how are these retailers best preparing for the heart of the holiday shopping season? What are you seeing?
JIM TAYLOR: Well, we're seeing great traffic into our centers and the retailers like those that you mentioned and many others, I think are very pleased with the strength of the consumer and importantly, how the store serves the consumer. You know, we're a retail landlord with about 360 properties across the us tenanted by great retailers like TJ, like Publix, like Kroger, Burlington and many others.
And, you know, the retailers themselves are finding that the stores are a great way to connect with and serve the consumer. So as they go into the holiday season, I think they're seeing great traffic. Obviously, Black Friday was strong, but we're seeing overall strength in traffic even past Black Friday.
J.D. DURKIN: How are you seeing the companies position themselves maybe a little bit different for this year's holiday season than maybe what we've seen in the past, I wonder?
JIM TAYLOR: Well, I think they've gotten a handle on the inventory. Right and you've seen many retailers come out and drive profitability from an inventory perspective by reducing what they have in the store. I think they're improving the overall mix and offering to the consumer and really giving the consumer multiple reasons to come into the store. And again, I think that that's been part of the success that's driving these retailers. Now, one thing to appreciate is that these retailers also look out and see potential weakness in the consumer. And so they're positioning for that to remain competitive, to remain a compelling value proposition, as many of our retailers are. And again, to give the consumer a reason to come into the store.
We're a retail landlord, as I like to say. We're not directly in the retail business. We we lease properties that retailers want to be at. And I think that's important to appreciate. And the retailers themselves understand that as well as it relates to our business because they're committing to stores well into 25 and beyond. So whatever retail or consumer softness we may see over the coming periods, I think the retailers are well positioned for it. Their balance sheets are stronger. They've come through the pandemic better. So I think we're well positioned for whatever lies ahead.
