THE TREND IN "HIGH END" SHOPPING IS STRONG... AND IT IS UP
The U.S. consumer is hitting the mall with gusto... And it's more evidence the economy "can't be doing that bad."
For proof, we submit the performance of Taubman Centers (NYSE: TCO)
Taubman Centers is one of America's largest shopping-mall operators. But it's not your average mall operator. Its properties are "high end" malls. It counts Macy's, Apple, Williams-Sonoma, and Nordstrom among its best tenants. This makes Taubman's profits and share price an indicator of how the consumer is doing.
As you can see from our three-year chart below, the consumer is spending. Since mid-2010, Taubman shares have climbed from $40 to $85 per share... and just struck a new 52-week high. The company's first-quarter results (reported last month) were great. Considering all this, we have to say, "Sure, America has problems... but as long as Taubman is in a major uptrend, things can't be all that bad."
The U.S. consumer is hitting the mall with gusto... And it's more evidence the economy "can't be doing that bad."
For proof, we submit the performance of Taubman Centers (NYSE: TCO)
Taubman Centers is one of America's largest shopping-mall operators. But it's not your average mall operator. Its properties are "high end" malls. It counts Macy's, Apple, Williams-Sonoma, and Nordstrom among its best tenants. This makes Taubman's profits and share price an indicator of how the consumer is doing.
As you can see from our three-year chart below, the consumer is spending. Since mid-2010, Taubman shares have climbed from $40 to $85 per share... and just struck a new 52-week high. The company's first-quarter results (reported last month) were great. Considering all this, we have to say, "Sure, America has problems... but as long as Taubman is in a major uptrend, things can't be all that bad."