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News Release TANGER REPORTS SECOND QUARTER RESULTS Company Release - 8/3/2021 4:15 PM ET Greensboro , NC , August 3 , 2021 , Tanger Factory Outlet Centers , Inc. ( NYSE : SKT ) , a leading owner and operator of upscale open - air outlet centers , today reported financial results for the three and six months ended June 30 , 2021 and operating metrics for the second quarter of 2021 . Raises Guidance Traffic and Tenant Sales Exceed 2019 " Our efforts to engage the consumer by curating a more upscale mix of brands , creating a sense of place and crafting opportunities for more personalized , end - to - end , experiential outings are beginning to bear fruit . Traffic to our domestic open - air centers during the second quarter surpassed the same period of 2019. Consolidated portfolio trailing twelve month tenant sales were $ 424 per square foot , an increase of more than 7 % from the comparable 2019 period , " said Stephen Yalof , President and Chief Executive Officer . Second Quarter Results " Led by these trends , the results of our business operations exceeded our expectations and drove higher variable rents and other revenues . We are encouraged that these operating metrics have generated interest from aspirational retailers and non - traditional uses . We intend to take an intentional approach to leasing , making the right deals today that will create value for all of our stakeholders tomorrow . I have the utmost confidence in our strategy and the long - term prospects for our business , " he added . Net income available to common shareholders was $ 0.02 per share , or $ 2.3 million , compared to net loss available to common shareholders of $ 0.25 per share , or $ 22.9 million , for the prior year period . The current year includes a loss on the early extinguishment of debt of $ 14.0 million , or $ 0.13 per share . The prior year period was heavily impacted by the COVID - 19 pandemic and also included a $ 3.1 million , or $ 0.03 per share , non - cash charge related to the Company's share of a non - cash impairment of an asset in its Canadian unconsolidated joint venture . Funds From Operations ( " FFO " ) available to common shareholders was $ 0.30 per share , or $ 32.4 million , compared to $ 0.10 per share , or $ 10.0 million , for the prior year period . Year - to - Date Results Core Funds From Operations ( " Core FFO " ) available to common shareholders was $ 0.43 per share , or $ 46.3 million , compared to $ 0.10 per share , or $ 10.0 million , for the prior year period . Core FFO for the second quarter of 2021 excludes the loss on the early extinguishment of debt discussed above , which the Company does not consider indicative of its ongoing operating performance . Net income available to common shareholders was $ 0.06 per share , or $ 6.2 million , compared to net loss available to common shareholders of $ 0.54 per share , or $ 50.3 million , for the prior year period . The current year period includes the loss on the early extinguishment of debt discussed above . The prior year period was heavily impacted by the COVID - 19 pandemic and also included non - cash impairment charges totaling $ 48.8 million , or $ 0.50 per share . FFO available to common shareholders was $ 0.68 per share , or $ 70.6 million , compared to $ 0.60 per share , or $ 58.8 million , for the prior year period . Core FFO available to common shareholders was $ 0.84 per share , or $ 86.9 million , compared to $ 0.60 per share , or $ 58.8 million , for the prior year period . Core FFO for the first half of 2021 excludes the loss on the early extinguishment of debt discussed above and general and administrative expense of $ 2.4 million , or $ 0.02 per share , for compensation costs related to a voluntary retirement plan and other executive severance costs , both of which the Company does not consider indicative of its ongoing operating performance . FFO and Core FFO are widely accepted supplemental non - GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies . Complete reconciliations containing adjustments from GAAP net income ( loss ) to FFO and Core FFO , if applicable , are included in this release . Per share amounts for net income ( loss ) , FFO and Core FFO are on a diluted basis . 1