Messi Department Store'S Net Sales Fell 4.2% In The Three Quarter.

The group said sales and profits continued to shrink in the three quarter, but sales trends improved.

In the three quarter of October 29th, the Macy 'sInc. Messi department store continued its downward trend in the past 6 quarters, a 2.7% decline in the same store sales, an increase of 2% over the two quarter, but a lower than Consensus Metrix combined forecast of 3.4% and 3.9% in the same period last year.

Net sales fell by 4.2% to 5 billion 626 million dollars, which was in line with market expectations. The group pointed out that the closure of 41 loss stores before the end of fiscal 2015 had a significant impact on sales.

Messi store's revenue in the first quarter of the third quarter dropped by 3.3%, down seventh consecutive quarters.

Messi stores predict that sales of stores will drop by 2.5% to 3% within a year, compared with 3% to 4%.

Macy sInc., chairman and chief executive officer of Messi's department store, Terry Lundgren, said in the earnings report that the trend in the three quarter has provided confidence for the group's steady performance in the four seasons holiday season.

Last month, Apple Store, the first U.S. Department store opened last month, settled in New York Macy Square pioneer Plaza flagship store in Macy 's Messi department, in order to comply with consumer goals.

To the pfer of technology products, the group has also increased the layout of consumer technology products in its 180 stores.

Now the group lowered its expected year-round same store sales decline from the previous 3.0%-4.0% to 2.5%-3.0%, and EPS is expected to remain at 3.15-3.40 US dollars, which is in line with Fact Set's expected 3% and $3.37.

Under the leadership of Terry Lundgren, the company seeks growth opportunities, such as the acquisition of high-end beauty.

Bluemercury, and pay special attention to its unique fashion classification.

During the holiday shopping season, it launched the apple store in its pioneer Plaza last month.

This marks the first US Department store to have a hub dedicated to the brand.

In addition to the apple store, it highlighted consumer technology in 180 stores and launched smart watch displays.

At the beginning of next year, Messi's department store, headed by the new CEO, has launched its own offline price chain, and is testing an AI tool to release sales assistants and provide higher level customer services.

At the same time, Macy 'sInc. Messi general store group announced a strategic alliance with Asset Management Co Brookfield Asset Management, and gave the latter a maximum of 24 months to create exclusive rights for the "advance development plan" for about 50 Macy' sInc. Messi department store property assets. These assets include group owned and rental stores and related land, most of which are located in shopping centers but not owned by large market developers. The group indicates that more assets may be injected into the cooperative plan in the future, with the goal of "realizing the development potential of Macy" s portfolio.

In addition, the group announced the sale of the 248 thousand square feet men's department store in San Francisco Union Square and the stores in downtown Portland, Oregon, respectively, for 250 million US dollars and 54 million dollars respectively. The two pactions are expected to bring in a total of 271 million dollars.

The San Francisco Union Square will end in January 2017.

Macy 'sInc. Messi department store has released the value of the property portfolio in the past year from the radical minority shareholder StarboardValueLP, which began to exert pressure last year.

Just last month, the group sold five department stores to GeneralGrowthPropertiesInc., the developer of the second major shopping malls in the United States, and redistributed the resources to focus on the stores with high growth potential, thereby promoting profitability. The paction contributed $32 million in the three quarter of 46 million.

In August of this year, the group also decided to close 100 stores which were not performing well, reducing the total number of more than 700 stores by 14%, at the expense of 100 million US dollars in annual sales, accounting for about 4% of annual revenue.

In January, the group also sold some parts of the Broolyn Fulton Street store in New York to the developer Tishman Speyer. In the past 3 years, it has gained a total profit of 270 million US dollars. The group has appointed the real estate trust expert William Leneham as the director and Douglas W.Sesler as the chief executive of the new real estate business.