23
Fashion Jobs
BEST SELLER
Payroll Coordinator Slovenia
Permanent · LJUBLJANA
JACK & JONES
Sales Representative Jack & Jones Slovenia
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · KOPER
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · CELJE
BEST SELLER
Business Developer
Permanent · LJUBLJANA
BEST SELLER
Finance Business Partner
Permanent · LJUBLJANA
NAME IT
Sales Representative Name IT Slovenia
Permanent · LJUBLJANA
SELECTED FEMME/HOMME
Sales Representative Selected Slovenia
Permanent · LJUBLJANA
VERO MODA
Sales Representative Vero Moda Slovenia
Permanent · LJUBLJANA
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
H&M
Prodajalec (m/ž) - Sales Advisor 40h
Permanent · MURSKA SOBOTA
SPORTS DIRECT
Prodajalec - Sports Direct, Btc
Permanent · LJUBLJANA
H&M
Prodajalec (m/ž) - Sales Advisor
Permanent · LJUBLJANA
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Celje City Center/Slowenien
Permanent · CELJE
JACK & JONES
Shop Manager (Fulltime) Jack & Jones Celje City Center/ Slowenien
Permanent · CELJE
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Planet Koper/Slowenien
Permanent · KOPER
JACK & JONES
Store Manager (Fullime) Jack & Jones Planet Koper / Slowenien
Permanent · KOPER
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
BEST SELLER
People & Culture Business Partner
Permanent · LJUBLJANA
BEST SELLER
Marketing & Communications Specialist
Permanent · LJUBLJANA
BEST SELLER
Accounts Receivable
Permanent · LJUBLJANA
By
Reuters
Published
Aug 4, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

Macerich second-quarter FFO falls

By
Reuters
Published
Aug 4, 2009

NEW YORK, Aug 4 (Reuters) - Macerich Co (MAC.N), which owns malls chiefly in U.S. western regions, reported quarterly funds from operations that just missed Wall Street expectations, as occupancy fell.


The Oaks, a Macerich mall - Photo: www.macerich.com

FFO, a performance measure of real estate investment trusts, fell to $59.9 million, or 67 cents per share, from $99.6 million, or $1.12 per share, a year earlier, the company said on Tuesday 4 August.

Excluding a charge of $27 million for noncore assets, FFO was 98 cents a share, missing analysts' forecasts of 99 cents, according to Reuters Estimates.

The U.S. recession has hindered consumer spending and hurt retailers. For Macerich, that translated into a 7.8 percent fall in sales per square foot to $428 for the quarter.

The company said portfolio occupancy had slipped 2.5 percentage points to 90.5 percent at the end of June from a year earlier.

Investors have been concerned about the Santa Monica, California, mall owner. Last month, the company, which owns 72 U.S. malls, acted on its plans to reduce its debt load by selling noncore assets and entering into joint ventures.

It netted $150 million by selling a 49 percent interest in its Queens Center in New York City to Cadillac Fairview, a wholly owned subsidiary of Ontario Teachers' Pension Plan Board, and used the proceeds and those from other noncore asset sales to pay down $200 million from its unsecured term notes.

Macerich also secured a series of mortgages, which when completed will leave it with less than $60 million of maturities remaining for the year.

Shares of Macerich on Monday 3 August closed at $20.04 on the New York Stock Exchange, and were inactive in premarket trade on Tuesday 4 August.

(Reporting by Christopher Kaufman and Ilaina Jonas; Editing by Lisa Von Ahn and Gerald E. McCormick)

© Thomson Reuters 2024 All rights reserved.