Tanger: Outlet centers aren't affected by rising price of gas

03/29/2012 | CNBC

Customers are flocking to outlet centers despite the rising price of gas, says Steven Tanger, CEO of Tanger Outlet Centers. Many of the REIT's outlet centers are close to resorts, and Tanger says people are still driving for their vacations and stopping off at outlets along the way. "Consumers like bargains," he said. "The incremental cost to drive to an outlet center to save ... is well worth the trip."

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