| Type | Public (NYSE: SKT) |
|---|---|
| Industry | Outlet malls |
| Founded | 1981 (listed 1993) |
| Headquarters | Greensboro, North Carolina |
| Key people | Stanley K. Tanger, Steven B. Tanger |
| Net income | $34.25 million USD (2011-12-31)[1] |
| Employees | 200 |
| Website | http://www.tangeroutlet.com |
Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a real estate company that owns the chain TangerOutlets (sometimes referred as the Tanger Mall), an outlet mall company headquartered in Greensboro, North Carolina.
The company derives its name from founder Stanley Tanger who in 1981[2] opened the Burlington Manufacturer's Outlet Center (BMOC) in Burlington, North Carolina. As of 2011, the company has 35 centers in 24 states.[2]
The company operates as a REIT. In June 1993 it became the first publicly traded outlet company when it was listed on the New York Stock Exchange.
As of December 31, 2006, Tanger's 30 centers represented a gross leasable area (GLA) of approximately 8,400,000 square feet (780,000 m2) and consisted of more than 1,800 stores, representing about 380 store brands.[3] According to its website it had 150 million shoppers in 2006.[4]
On January 24th, 2011, it announced a $1 billion dollar partnership with Canadian based RioCan Real Estate Investment Trust to open up to 15 outlet locations in Canada within 7 years. It secured its first location in the Greater Toronto Area of Milton, Ontario at the Highway 401 and James Snow Parkway interchange to be ready for an April 2013 opening.
Tenants in its centers include Liz Claiborne, Gap, Banana Republic, Old Navy, Polo Ralph Lauren, Reebok, Tommy Hilfiger, Nautica, Abercrombie & Fitch, Hollister, Eddie Bauer, Brooks Brothers and Nike.