Exhibit 99.1
 
NEWS RELEASE

Glimcher Realty Trust
180 East Broad Street
Columbus, Ohio 43215
www.glimcher.com
                               
 
INVESTORS: 

Lisa A. Indest
SVP, Finance and Accounting
614.887.5844
lindest@glimcher.com
MEDIA:

Karen Bailey
Director, Corporate Communications 
614.887.5847
kbailey@glimcher.com
 


FOR IMMEDIATE RELEASE
Thursday, October 24, 2013



GLIMCHER REPORTS THIRD QUARTER 2013 RESULTS

Growth in comparable mall net operating income of 4.7% in the third quarter of 2013
19% re-leasing spreads for the mall store leases signed during the third quarter of 2013
Total mall occupancy of 95.0% at September 30, 2013, up 30 basis points from a year ago

COLUMBUS, OH - October 24, 2013 - Glimcher Realty Trust (NYSE: GRT) today announced financial results for the third quarter ended September 30, 2013. A description and reconciliation of non-GAAP financial measures to GAAP financial measures is contained in a later section of this press release. References to per share amounts are based on diluted common shares.

“We are pleased to report another quarter of solid operating fundamentals with NOI growth of 4.7%, 19% releasing spreads, and portfolio sales per square foot of $465,” said Michael P. Glimcher, Chairman of the Board and CEO. “We also completed the redevelopment of our Outlet Collection properties in New Jersey and Seattle, with the grand re-openings of these newly renovated properties this month. Together these properties enhance the growth profile of the Company.”

Net loss to common shareholders during the third quarter of 2013 was $5.0 million, or $0.03 per share, as compared to a net loss to common shareholders of $10.4 million, or $0.07 per share, in the third quarter of 2012. Funds From Operations (“FFO”) during the third quarter of 2013 were $24.7 million, or $0.17 per share, compared to $20.5 million, or $0.14 per share, in the third quarter of 2012.












The following information was filed by Glimcher Realty Trust (GRT) on Friday, October 25, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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