Investors - JULY 2, 2020

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Taubman Centers opens all shopping centers

by Released

Taubman Centers has opened 100 percent of its operating properties in the United States and Asia.

“Nearly 85 percent of stores in our portfolio have reopened, with more opening every day,” said Robert S. Taubman, the company’s chairman, president and CEO. “We are pleased to safely welcome customers back, and we are encouraged by the results we are seeing.”

In addition to Taubman’s 21 centers in major markets across the United States, the company’s three Asia shopping centers — CityOn.Xi’an (Xi’an, China), CityOn.Zhengzhou (Zhengzhou, Henan, China) and Starfield Hanam (Hanam, South Korea) — have been open and operating since the end of February. Taken together, about 95 percent of stores in Asia have reopened and comparable sales per square foot are approaching 2019 levels.

“We were encouraged by the quick rebound of our centers in Asia and are seeing very positive progress in the United States,” said Taubman.

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