Simon Property Group, the nation’s largest mall landlord, reported stronger-than-expected first quarter profit yesterday as more shoppers spend money on discretionary goods.

Simon Property, which is pursuing bankrupt General Growth Properties, reported a profit of $15 million, down from $113.3 million a year earlier and reflecting debt-extinguishment charges. Excluding the charges, funds from operations, a key profitability measure for real-estate investment trusts, fell to $1.41 from $1.61 as revenue rose 0.7 percent to $925.1 million.