mall owner, is expected to post its smallest quarterly profit in nearly six years on Monday, as the plunge in foot traffic and early government-mandated closures resulted in tenants being unable or unwilling to pay full rent.

Simon has full or partial ownership in seven of the nation's top 10 malls, as measured by sales of mall tenants.

Foot traffic was down more than 50% at Houston's upscale Galleria and at Miami's Aventura Mall in mid-July, according to cellphone tracking data provided by Unacast.

mall, was not immune, with traffic in mid-July off 37% as COVID-19 infections spiked.

Simon and Brookfield, along with a third company, acquired teen apparel chain Forever 21 last February, and Simon in 2016 was part of a consortium that bought another teen apparel retailer, Aeropostale https://www.reuters.com/article/us-aeropostale-m-a-authenticbrands-idUSKCN1180AC.

On Sunday, The Wall Street Journal, citing sources, reported that Simon and Amazon.com Inc are exploring converting mall space formerly occupied by J.C.

Companies like Coach handbag maker Tapestry Inc smarting from falling store traffic say mall retailers need rent reductions to survive.

"At some point when enough malls flush out, those who survive - the Simons and Maceriches of the world - will come out stronger," said Michael Jerbich, president of B