What: The CEO of Simon Property Group is comfortable with the company’s current portfolio and doesn’t expect to buy more retailers in the near term.

Why it is important: As CEO of a mall giant, Simon’s opinion that there’s not really a lot of distress in retail currently could be a positive sign for the industry.

David Simon stated that he’s content with his company’s current position in retail and doesn’t expect to buy more retailers in the near future.

The CEO said that if the group does acquire, it will be opportunistic as most of their work has been on the bankruptcy front. While he is aware of brands that are in trouble, he doesn’t see Simon playing in any of the situations.

The business of being a landlord is also paying up for Simon. The real estate group’s net income increased 33.9% to USD 673.8 million from USD 503.2 million a year earlier and net income for the quarter was boosted to USD 90.5 million.

David Simon not expecting more retail acquisitions, for now