strategic our third year. for morning you Jim our Good I operational quarter highlights. financials review and will results you us. will and with outlook and the provide and joining thank for
are the quarter, by improved encouraged we a our results we of that delivered number exceeded for For headwinds, third facing our expectations. Despite outlook XXXX.
to points momentum XX prior comparable Traffic and into expectations year of periods. was and and shoppers. center the Year-to-date, the our year, for far upon of declined points third continued periods. quarter to has our The quarter are basis the NOI for compared guidance. in continues X.X% resonate basis October. our our desirability so results declined third XXX year-to-date proposition Based raising The favorable the we up same remainder from centers traffic by with value and X.X% the
we of to Leasing expectations, portfolio today's the these high priority million to months for XX.X%. end, curate results retailers feet. retail environment. quality a leases, approximately X.X do a of the an as customer with quarter Commenced challenges top continues our optimal consolidated be our leases trailing reflect totaling At of maintained XX ahead our square included While rate experience. occupancy centers XXX provide
leases had consolidated in the portfolio renewals have -- for of year. we expire calendar We the to during lease scheduled process and executed XXXX is XX% space or
Our ended the straight-line all cash blended on average September rates we're months a for basis off on XXXX. trailing a XX XX basis during commenced rental that increased X% X.X% and leases
we current to For of pressure XX-month the year, seen remainder the on cash trailing anticipate for have we the similar seeing period. ongoing what spreads
and prioritize We continue despite store recent closings tenant that by the anticipated created maintaining were announcements. high occupancy to recent
as believe tenants and works of proposition occupancy pop-up tenants. stores and the compelling high existing to long-term by while distribution testing creative continues profitability. and are tenants new a desirable our a We outlet for because allowing more means, that as Our leasing tenants targets as strategy temporary This outlet we and become being the are new mix well permanent strategy to with a multi-channel maintaining retailers test value its them, presentation a channel customers. that offer of cost of to low also approach to may
recent lower X.X%. Our more tenant any the remains occupancy cost ratio of than
Sportswear, Columbia of this American recent Lauren, openings examples Polo Some Eagle. Ralph store and quarter include
outlet expand categories, jewelry markets. shoes and and in well beauty for opportunities specialty presence of as athletics to health strength their seeing and a new into retailers looking are number We with as
related including brand-wide the the quarter. feet square end restructuring to and third of within Through retailers XXX,XXX by third in portfolio quarter, we feet square the recaptured X,XXX approximately the consolidated bankruptcies
portfolio, of consolidated XX average the a at to to and of sales of Dressbarn In points rent closures, feet beginning base basis regard close all stores our approximately their XXX,XXX stores annualized $XXX comprises anticipated of this foot. XXX about square with square plans With XXXX.
how There do have fee will an been exactly We and stores there any remain and close or open. stores three other when be if recent adjustments tenant many potential will store announcements know that as early of not termination rent closures.
XX,XXX to Kitchen XX portfolio stores contributing their Collection AVR. our points has currently announced in plans approximately retail close stores. consolidated basis We all have of XX feet, representing square
store two Destination Destination Maternity bankruptcy XX Maternity of basis court AVR. stores XX filed Forever and only current Together, closure XX XX,XXX in Tanger square locations. these and includes The protection October. and stores feet Forever points represent potential five list seven
not While we these from XXXX. in fluid, these situations impact do remain expect significant any
in are the executed. in outlet discussions half space of the expanding entering with which already already in retailers Dressbarn approximately for interested spaces or We are including some active of existing
outlet years the One that and and is centers. for remained consistent ongoing Over there demand past that we has brands located seen high quality come have go. thing retailer well is
confident Leasing opportunity of and our ability priorities with offering the retail space, and are Curating our brands although, some to core top may continues mix refresh our is competencies our the be customers. in is to fill our re-tenanting one of we tenant it most time. one take compelling for to our an
X% September year. or increased the square as foot for per XX, $XXX productivity the portfolio foot prior square the Sales by consolidated XXXX for to per to ended compared XX-month $XX
per On foot, XXX for a increased healthy an for performance the September overall $XX sales months the the Same-center square they year. increase basis, tenant $XXX basis points the year. ended NOI to were portfolio and XX from compared weighted XX prior a X% prior
an branded targeted Tanger in our combination shoppers and drove we for looking experiential and value experience including During programming. successful a the efforts, of programs, marketing to digital engaging Centers the due tailored touch appeal compelling traffic a expanded through third to increase direct leasing strategic aggressive mail, points, highly quarter, offering X.X% a of
in our proving our marketing participating both increasingly consumers centers programs. with effective efforts and are who marketing are brands Our tenant to are who with be visiting
a shoppers to digital for to outreach We and come offers content strengthen providing properties. our reason to and continue refine our compelling targeted with
We extend and dwell to have implement oriented portfolio. successfully across are continued the and family-entertainment drive These time. experiential traffic events to events designed
some quarter, the During the Day. events Labor holiday and back-to-school celebrations in festivals at family July August and Xth highlights numerous of around third include
During X.X%. traffic hosting at weekends, almost event, up was centers events
creating visits. to directly We tenants goals, support promoting with custom such their key excitement store also or programs new drive opening work as a brands building to around
consistent We comp brands. for prospects business key in These double-digits retailer high is collaboration for confident the reasons. other traffic differentiated the formats with of have three is tenants provides It the Tanger. remain to The of distribution events profitable physical help retail capital weekends outlet from single drive increases It for the one unlike promotion. of and built outlet retail other consumers not require value boxes the channels our most is odd-shaped for that and for after industry multi-level re-tenant. not large the investments most to does over and sought formats,
already ahead, look addressing vacancies we going into are we As proactively expected XXXX. the
While some Outlets continues having time sustained attractive landscape new are constructive value cost it with existing provide. will take to who appeal of to retailers the growth, The occupancy conversations return and that Tanger to retail evolve. shopper we and
determine customer optimal world we're engagement its changing, that and to high around away. important is it's hard brand landscape. to our and proposition Tanger centers. the an working emphasizing position ensure a value utilizing to great adapt of Clearly, element with by quality Tanger retail us, Along as going productivity brick-and-mortar we and retains the data continue has not but tenant
search Additionally, Officer. we continuing want identify President thorough are and that I Operating a mention to a process new to Chief
an will announcement not have this an we provide share. to information we at While update time, we have do when
retail their work, retail Tanger I'd like Finally, and dedication creating landscape hard experience this to our for in for thank again navigating the customers creativity and team the Tanger and partners. evolving
over Jim financial now results to take like the a turn I'd that, and balance our you sheet to recap. call With to brief through
