Messi Department Store Sales Fell Four In The Same Quarter In The 2.7% Quarter

According to the world clothing and shoe net, Macy 'sInc. (NYSE:M) Messi group released its four quarter results before Tuesday, ending the fourth quarter of fiscal 2016 in January 28, 2017. The Department Store recorded a profit of $1.54 per share, excluding EPS and other non operating items. EPS was $2.02, exceeding ThomsonReuters's expected $1.96, and Zacks was expected to be 1.97 dollars.

Fourth quarter,

The Group recorded a 2.7% decline in same store sales, after which the company has disclosed a 2.1% decline in same holiday sales in the holiday season.

The group's weak performance has been digested.

On the contrary, rumours continue to push up the company's share price, while group chairman and chief executive TerryJ.Lundgren said in the earnings report that the Group recorded a cash income of $675 million in real estate sales in just 2016 fiscal year, and the group has cooperated with Brookfield Asset Management to continue to release the real estate value.

By the expected EPS impact, Messi Department Store Group rose more than 3% before the deadline. The deadline for dispatch was 8:11AM 33.45 US dollars, up 3.56%.

As of the four quarter of January 28th, the Messi Group recorded a revenue of 8 billion 515 million US dollars, which was 4% down compared with 8 billion 869 million US dollars in the 2015 fiscal year. In the 2016 fiscal year, the group's income was 25 billion 778 million US dollars, a decrease of 4.8% over the same period last year, a 3.5% decline in the same store sales, and a year-on-year decline in the authorized business sale to 2.9%.

During the fourth quarter, Messi's department store recorded a gross margin of 38.3%, a year-on-year increase of 90 basis points, a decrease of 1.7% in gross profit from $3 billion 320 million to US $3 billion 264 million, a 815 million US dollar profit in the operating profit period, a 12.9% decrease compared with the same period in the 2015 fiscal year, and a profit margin of 9.6%.

In the 2016 fiscal year, Messi's business profits plummeted from 35.5% to 1 billion 315 million dollars, 2015 in fiscal year 2 billion 39 million, and operating profit rate plummeted 240 basis points to 5.1%.

In the fourth quarter and the whole year, Messi's department stores recorded a net profit of 472 million US dollars and US $611 million respectively, compared with us $543 million and US $1 billion 70 million in the same period last year.

In the 2016 fiscal year, Messi's earnings per share were recorded at $1.99, compared to $3.22 in the same period in 2015. After adjustment, it fell from $3.77 in 2015 to $3.11.

In the 2016 fiscal year, Messi stores closed 66 stores, adding 27 new ones as part of the 100 store closing plan, and the remaining 34 will be closed in the next few years.

Messi's department store on Tuesday reiterated that TerryLundgren's CEO position will be replaced by JeffGennette, group president, in March 23rd.

TerryLundgren told CNBC program SquawkBox on Tuesday that the previous rumors about the group were very normal, and the company was often rumoured buyers, but he refused to buy leveraged buy-out because it usually meant no good results in retail business.

The Group expects a 2017 decline in same store sales in fiscal year 250 million, including a decline in sales of authorized businesses in the same store, a decrease of 2.0-3.0% in overall sales, and a projected 3.37-3.62 US dollar after adjusting for continued closing expenses. If the sale of property is not adjusted, EPS is expected to be only 2.90-3.15 dollars in 2017. The company announced on Tuesday that it will sell $250 million for sale at the UnionSquare Union Square in San Francisco, 250 million.

Shop property.

On Friday, Messi's department store's stock price closed at $32.30, a gain of 1.51%, though it was prompted by early February trading rumors, but the stock has fallen by 10% so far this year, mainly due to the low holiday season results.

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