U.S. Department Of Messi'S First Quarter Revenue Fell 7.4%

The largest chain corporation group in the US, Macy 's Inc. (NYSE:M), Messi department store, released its first quarter results, which recorded a net profit of $116 million in the first quarter and a profit of $0.37 per share, leaving no more than $0.40 from EPS after the project, which surpassed the $0.38 expected by Capital IQ Consensus.

Earnings exceeded expectations and failed to help Macy 's Inc. Messi department store to raise its share price. On the contrary, because of the sharp decline in tourist consumption, the group sharply lowered its annual profit forecast. Macy' s Inc. NYSE:M (NYSE:M) dipped nearly 10% of Messi's department store before the deadline. The deadline was 33.61 Macy, 9:06AM, which fell by 9.14%.

Macy 's Inc.

In the first quarter earnings report, the EPS fiscal year is expected to fall sharply from US $3.80 -3.90 to US $3.15 -3.40 US dollar, which is expected to be far lower than the $3.78 expected by the market. The group also lowered its revenue forecast by 2% to 26 billion 540 million US dollars, which basically met the market expectations of $26 billion 510 million. The group's year-round same store sales growth rate was -4%--3%, which was expected to be -1% before 2016.

As of the first quarter of April 30, 2016, Macy 's Inc. Messi department store revenue fell 7.4%, from 6 billion 232 million US dollars in the same period last year to 5 billion 771 million US dollars, far inferior to Capital IQ Consensus's expected $5 billion 940 million.

Sales decline was mainly affected by the closure of 41 stores. During the period, the total sales of the group including self operated and authorized stores fell by 5.6%, while the sales of self operated businesses in the same store decreased by 6.1%.

However, the group added 7 Bluemercury independent beauty shops in the first quarter, while closing a Macy 's Messi jewelry store.

Macy 's Inc. Messi, chief executive officer Terry Lundgren, said the first quarter.

Sales of related businesses were weak, especially from mid March, which was slower than expected.

Terry Lundgren also said the sharp decline in tourist consumption in some core areas has led to double-digit declines in tourism consumption and sales of some core categories of the group have slowed down.

Although Terry Lundgren does not refer specifically to "core regional tourists" as Chinese tourists, the "core category" is a luxury category. However, the slowdown in China, the stock market downturn and the depreciation of the renminbi have already begun to affect the international consumption of Chinese tourists, and the European market, which is shadowed by terrorist attacks, has already taken the lead.

Macy 's Inc. Messi department also said in its earnings report that the group appointed Douglas W. Sesler as the chief executive of the new real estate business, and he will maximize the value of the group's estate with the help of industry consultants.

Previously, under the pressure of independent real estate business demanded by shareholders, Macy 's Inc. Messi office has said it will seek external cooperation and even sell part of its real estate business.

However, like last season, the group still indicated that it was exploring the process without disclosing specific details and progress.

Macy 's Inc. (NYSE:M) Messi's department store will open the US Department Store's earnings season, and tomorrow's upcoming J.C. Penney Co. Inc. NYSE:JCP (NYSE:JCP) will take the lead in issuing a positive earnings statement on Monday, saying that the group's core profits in the first quarter were better than expected, so as to counter the adverse rumors that the market had tightened its capital and reduced staff hours.

On Monday, market agency Retail Metrics data showed that

The same store sales grew by 1.3% in April, rebounding strongly compared to the 0.1% and 0.2% increase in February and March.

However, Retail Metrics is clearly not reflected in the Macy 's Inc. Messi department store.