⁍ America’s largest mall operator Simon Property Group Inc missed Wall Street estimates for quarterly profit.

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⁍ Net income attributable to the company’s shareholders fell to $254.2 million, or 83 cents per share, from $495.3 million, or $1.60 per share, a year earlier.

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⁍ Total revenue for the second quarter ended June 30 fell about 24% to $1.06 billion.

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– America’s largest mall operator missed Wall Street estimates for quarterly profit on Monday, hurt by unpaid rent from retailers due to the COVID-19 pandemic that also led to a loss of 10,500 shopping days. Simon Property Group Inc., which operates about 200 US properties and houses brands such as Gap, Nordstrom, Brooks Brothers, Macy’s, and J.C. Penney, is struggling as some of its clients have either filed for bankruptcy or are fighting to stay afloat while the pandemic continues to ravage their businesses, Reuters reports. Simon said it has collected about 51% of its contractual rent billed for April and May combined, about 69% for June, and about 73% for July from its US retail portfolio. Total revenue for the second quarter ended June 30 fell about 24% to $1.06 billion. Net income attributable to the company’s shareholders fell to $254.2 million, or 83 cents per share, from $495.3 million, or $1.60 per share, a year earlier. Analysts were expecting the company to earn 98 cents per share.