CBL posts higher earnings

CBL posts higher earnings

April 29th, 2011 in Business Around the Region

CBL & Associates Properties Inc., the Chattanooga-based shopping center developer, on Thursday reported higher first-quarter earnings on better leasing and occupancy.

"We have started off the year with impressive results," said Stephen D. Lebovitz, the company's chief executive officer.

CBL posted first-quarter funds from operations of $93.3 million, or 63 cents per share, compared with $67.9 million, or 49 cents per share, a year ago, according to the company.

CBL reported that same-store sales per square foot for mall tenants with 10,000 square feet or less increased 2.5 percent.