Tanger Inc. has raised its financial outlook for the second time this year, driven by increased traffic and sales at its shopping centers. The real estate investment trust benefited from a surge in domestic travel and an early start to back-to-school shopping.

CEO Stephen Yalof highlighted the significance of the back-to-school season for the outlet business, comparing its importance to early Christmas and holiday shopping. This strong performance indicates a positive trend for Tanger's retail locations.

The company's optimistic forecast suggests resilience in consumer spending, particularly within the outlet retail sector. The dual boost from travel and seasonal shopping has positioned Tanger favorably for the remainder of the year.