×
209
Fashion Jobs
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
ERIS LIFESCIENCES LIMITED
Area Business Manager (Generics)
Permanent · Ahmedabad
DIGIKREDIT FINANCE
Requirement For Sales Manager :: Ahmedabad
Permanent · Ahmedabad
KHOSLA MACHINES PVT. LTD.
Sales Manager-North
Permanent · Sahibzada Ajit Singh Nagar
TRACKON COURIER
Area Sales Manager
Permanent · Vapi
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Madhya Pradesh)
Permanent · Indore
GRAND CHEMICAL WORKS
Area Sales Manager- Jaipur & Lucknow
Permanent · Lucknow
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
FRAME TECHNOLOGY MARKETING SERVICES PVT. LTD.
am/rm/Manager- Sales (Supply Chain Finance)-Loan Frame- Pan India
Permanent · Ahmedabad
MARC LABORATORIES LTD.
Field Sales Officer/Area Business Manager / Regional Business Manager
Permanent · Varanasi
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
SAHIBANDHU FINTECH SERVICES LIMITED
Area Sales Manager - Sahibandhu
Permanent · New Delhi
By
Reuters
Published
Aug 4, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2022 All rights reserved.