Tanger saw traffic boost from World Cup tourism, CEO says

Investing.com -- Tanger reported increased foot traffic and sales in June and July as the World Cup brought international and domestic visitors to its shopping centers across host cities.

The outlet operator has locations in eight of the 11 cities hosting the tournament. CEO Stephen Yalof told CNBC on Wednesday that the company viewed the World Cup as a chance to introduce new customers to its brand.

"We knew when you get these new visitors that come for a huge magnet event like World Cup, you've got one opportunity to introduce them to your brand, and then hopefully they become a great ambassador for the brand if they have a great experience," Yalof said.

The company reported a 5% increase in sales for the year. Yalof said athletic brands performed well during the tournament period.

"Traffic drives sales. Traffic and sales always move together," Yalof said.

International visitors sought American experiences including dining options and brands available at or near Tanger centers, according to Yalof. The outlet format allowed customers to purchase American brands including Polo, Michael Kors, Kate Spade, Coach, and Nike at reduced prices.

Domestic travel also increased as Americans chose to stay within the country due to higher oil prices and global conditions, Yalof said.

Tanger reported strong second-quarter results on Tuesday, attributing performance to marketing initiatives and traffic-driving programs. The company operates centers that combine retail, food and beverage, and entertainment offerings.

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