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Simon Profit Dips in Second Quarter

Wednesday, July 27, 2016 11:11 AM EDT
By Alex Brown
Simon Profit Dips in Second Quarter Simon recently opened outlets in South Korea and France.

Indianapolis-based Simon Property Group (NYSE: SPG) is reporting second quarter Funds from Operations of $953 million, down from $955 million during the same period the previous year. The Real Estate Investment Trust is also reporting net income of $455 million, down from $473 million in the second quarter of 2015.

Chairman and Chief Executive Officer David Simon says despite the dip, it was an excellent second quarter for Simon, "with strong financial and operational performance, the opening of a new outlet center, the groundbreaking for our second Premium Outlet in Malaysia, and the acquisition of The Shops at Crystals, a highly productive center."

The results follow a strong first quarter for Simon. You can view the full second quarter results by clicking here.

Story Continues Below

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Performance management plays a key role in employee engagement

Performance management plays a key role in employee engagement

Employee engagement is a catchall term that refers to the degree to which employees are committed to their work and their organization. We all know that engaged employees are more productive, more creative, and more likely to stay with their organization. So, how does performance management impact employee engagement?...

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