Simon Property is "buying them out of bankruptcy, so it is acquiring the inventory at or below cost," David Simon, the company's CEO, said on a conference call late Monday, when the company posted a nearly 50% slide in second-quarter profit, hurt by Covid-19-led store closings and rent reductions, deferrals and non-payment. "We expect any equity investments should be returned within a year after integration of operations. (With Authentic) we continue to look forward to other opportunities."