Tanger Beats Earnings Estimates as Gen Z Drives Return to Physical Stores

Tanger Inc. posted first-quarter earnings that beat expectations and bumped up its full-year guidance, bolstered by robust tenant occupancy rates and a return to physical retail stores by Gen Z shoppers.

The Greensboro, North Carolina-based real estate investment trust on Thursday reported revenue of $150.4 million for the three months ended March 31, up from $135.4 a year earlier. That beat Wall Street expectations for $145.7 million.