Retail behemoth looks to bounce back

INDIANAPOLIS (WISH) - Indianapolis-based Simon Property Group has seen its stock prices cut in half over the past several months. Like others in the retail business, Simon hopes it can lure as many shoppers as possible in the next several weeks.

As the largest mall owner in the country, Simon may be a giant in the retail business but even giants are taking some hits in this economy. Since the end of September, Simon's stock has fallen by around 50 percent. It is a challenging time for retailers and for those who house them.

"They have a lot of creativity in those leases and some adjustments they can work out with the merchants. Some of the override perhaps on sales volume may not be delivered, but they are certainly strong enough to weather these kind of economic times," said L.H. Bayley, Chair of David A. Noyes & Company.

A Simon spokesperson declined to discuss the company's current position in the market or how the stores in its malls performed over the holiday weekend.

There was good news about weekend sales nationwide: the National Retail Federation said the average shopper spent 7.2 percent more than a year ago. Another industry group said sales the day after Thanksgiving typically account for 10 percent of total holiday sales.