Mission Statement, Vision, & Core Values of Tanger Factory Outlet Centers, Inc. (SKT)

Have you ever wondered what drives a company like Tanger Factory Outlet Centers, Inc. (SKT), especially with their impressive portfolio of 37 upscale outlet shopping centers across 20 U.S. states and Canada? What are the guiding principles behind their operations and strategic decisions?

Understanding a company's mission, vision, and core values provides valuable insight into its goals and how it aims to achieve them, particularly in a dynamic market where Tanger reported revenue of $0.52 Billion USD in 2024. Let's delve into the core of Tanger's identity to see what makes them tick and how they continue to attract over 120 million visitors each year.

Tanger Factory Outlet Centers, Inc. (SKT) An Overview of

Tanger Factory Outlet Centers, Inc. operates as a real estate investment trust (REIT) specializing in the ownership, management, and development of outlet centers. Founded in 1981 by Stanley K. Tanger, the company has grown to become one of the largest pure-play outlet center operators in the United States and Canada. As of April 2025, Tanger owns, or has an ownership interest in, a portfolio of outlet centers.

Tanger's business model focuses on partnering with leading retailers to offer a mix of brand-name and designer merchandise at discounted prices. These outlet centers provide a value-driven shopping experience for consumers and a strategic distribution channel for retailers. Tanger generates revenue primarily through rental income from its tenants, as well as through ancillary services such as common area maintenance, marketing, and lease administration.

In the fiscal year 2024, Tanger demonstrated a resilient financial performance. The company's total revenue reached $441.8 million. Same-center net operating income (NOI) increased by 2.9% year-over-year, reflecting healthy operational efficiency and tenant performance. Occupancy rates remained strong at 97.3%, underscoring the sustained demand for Tanger's outlet center spaces.

Tanger's financial performance in 2024 also includes:

• Net income attributable to common shareholders was $48.8 million, or $0.48 per diluted share.
• Funds From Operations (FFO) attributable to common shareholders was $183.8 million, or $1.81 per diluted share.

These figures highlight Tanger's ability to maintain high occupancy and grow its NOI, reinforcing its position in the outlet center industry. Tanger's strategic focus on maintaining high-quality properties and strong tenant relationships has contributed to its consistent performance.

As a leader in the outlet center industry, Tanger Factory Outlet Centers, Inc. has established a strong reputation for delivering value to both shoppers and retailers. To delve deeper into the factors behind Tanger's sustained success and its historical journey, explore: Tanger Factory Outlet Centers, Inc. (SKT): History, Ownership, Mission, How It Works & Makes Money

Tanger Factory Outlet Centers, Inc. (SKT) Mission Statement

Tanger Factory Outlet Centers, Inc. operates with a mission focused on delivering the best value, experience, and opportunity for its communities, stakeholders, and partners. The company's mission also focuses on providing premium outlet shopping experiences across North America.

The company's spirit of innovation, expertise, and commitment to excellence keeps its retail platform and open-air shopping centers evolving, delivering an ever-better experience to meet the needs of guests and retail partners. Tanger is dedicated to making retail partners successful, focusing on customers and delivering the right products, brand name and designer stores, and superior properties.

Tanger's mission is brought to life through its commitment to:

• Delivering the best value, experience, and opportunity for communities
• Prioritizing customer satisfaction through strategic initiatives
• Evolving the shopping experience to meet the needs of guests and retail partners

In 2024, Tanger Factory Outlet Centers reported a revenue of $0.52 Billion USD, an increase from $0.46 Billion USD in 2023.

More information about Tanger Factory Outlet Centers, Inc. can be found at: Tanger Factory Outlet Centers, Inc. (SKT): History, Ownership, Mission, How It Works & Makes Money

Vision Statement

Tanger Factory Outlet Centers, Inc. articulates a vision focused on leadership in outlet shopping center development, management, and operation across North America. The guiding principle of Tanger, which officially became its vision statement in 2023, is that they use customer insights to inform the future of shopping.

Tanger's vision encompasses:

• Leadership in outlet shopping center development
• Strategic location selection
• Strong tenant relationships
• Consistent portfolio management

Core Values

Tanger's core values define what the company believes in and guide its approach to creating long-term value. These values are:

• Consider Community First
• Seek the Success of Others
• Act Fairly & With Integrity
• Make It Happen

Consider Community First: Tanger recognizes that its diverse communities are the heartbeat of its business. The company's decision-making reflects varied perspectives to create a welcoming environment. Tanger's philanthropic and sustainable commitments are designed to better all of the communities it serves. Tanger supports communities through programs such as TangerKids and Hometown Heroes, collectively delivering over $3.6 million during the past 25+ years to support students and teachers.

Seek the Success of Others: Tanger believes that true success can only be achieved when it is experienced by employees, partners, and customers alike. The company strives to create a culture of inclusion, where everyone can be better together.

Act Fairly & With Integrity: Tanger acts with integrity and fairness in everything it does, showing respect for each other, customers, and partners. The company believes its commitment to ethics must live throughout every level, interaction, and function of the organization.

Make It Happen: This value is born from Tanger's heritage, empowering the company to take smart risks, innovate, and use voices to advocate for ideas and for others within communities.

Tanger integrates Environmental, Social, and Governance (ESG) into its business practices, seeking to have a positive impact while driving positive returns on investments. In 2022, Tanger announced its plan to achieve net zero Scope 1 and 2 emissions by 2050. As of the end of 2022, over 50% of Tanger's square footage was LEED Gold certified.

Tanger Factory Outlet Centers, Inc. (SKT) Vision Statement of

A vision statement outlines a company's aspirations for the future. While a formal vision statement for Tanger Factory Outlet Centers, Inc. isn't publicly available, we can infer their strategic direction from their actions, mission statement, and core values. Analyzing these elements provides insights into where Tanger aims to be in the coming years.

To fully understand Tanger's vision, it's helpful to explore its history, mission, and ownership structure: Tanger Factory Outlet Centers, Inc. (SKT): History, Ownership, Mission, How It Works & Makes Money

Enhancing Outlet Shopping Experiences

Tanger's vision likely revolves around elevating the outlet shopping experience. This includes:

• Creating more engaging and interactive environments.
• Integrating technology to improve customer journeys.
• Offering a wider variety of brands and products.
• Focusing on community engagement and creating destinations beyond just shopping.

This aligns with the broader trend in retail where experiential shopping is becoming increasingly important.

Strategic Growth and Expansion

A key element of Tanger's vision likely involves strategic growth and expansion. This could mean:

• Developing new outlet centers in underserved markets.
• Expanding existing centers to accommodate more retailers and amenities.
• Exploring opportunities in mixed-use developments.
• Diversifying into complementary real estate ventures.

Such growth initiatives would aim to increase Tanger's market presence and revenue streams.

Commitment to Sustainability and Community

Tanger's vision likely incorporates a strong commitment to sustainability and community. This may involve:

• Implementing environmentally friendly practices in their centers.
• Supporting local communities through partnerships and initiatives.
• Promoting diversity and inclusion within their organization.
• Focusing on ethical and responsible business practices.

These efforts not only enhance Tanger's reputation but also contribute to long-term value creation.

While a specific, publicly declared vision statement isn't available, Tanger's actions and values suggest a forward-looking approach focused on enhancing customer experiences, driving strategic growth, and fostering sustainability and community engagement. These elements likely form the core of their aspirations for the future.

Tanger Factory Outlet Centers, Inc. (SKT) Core Values of

While specific, formally documented core values for Tanger Factory Outlet Centers, Inc. (SKT) are not readily available in public filings or recent news, we can infer their operational values from their mission, vision, and strategic actions. Here's an overview of values that align with Tanger's business approach:

Commitment to Customers: Tanger demonstrates a strong commitment to providing value and an enjoyable shopping experience to its customers. This is evident through:

• Offering a variety of brands and products at discounted prices.
• Maintaining clean, safe, and attractive shopping environments.
• Hosting events and promotions to enhance the shopping experience.

Partnership and Collaboration: Tanger values its relationships with retailers, communities, and employees. This is reflected in:

• Collaborating with retailers to create successful outlet centers.
• Engaging with local communities through charitable initiatives and events.
• Providing employees with opportunities for growth and development.

Operational Excellence and Innovation: Tanger focuses on efficient operations and continuous improvement to drive performance. This includes:

• Investing in technology and infrastructure to enhance the shopping experience and streamline operations.
• Adopting sustainable practices to reduce environmental impact and operating costs.
• Actively managing and optimizing its portfolio of outlet centers.

Financial Strength and Stability: Tanger prioritizes maintaining a strong balance sheet and delivering consistent returns to shareholders. This is demonstrated through:

• Prudent financial management and disciplined capital allocation.
• A long track record of dividend payments.
• Strategic acquisitions and developments that enhance the company's portfolio and growth prospects.

For additional insights into Tanger Factory Outlet Centers, Inc., check out: Exploring Tanger Factory Outlet Centers, Inc. (SKT) Investor Profile: Who’s Buying and Why?