#Covid19 : Sales, a matter of survival, estimates the Galeries Lafayette department store owner

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The managing director of Galeries Lafayette, BHV Marais and La Redoute, Nicolas Houzé, pleads for the maintenance of the summer sales 2020, as soon as possible.


The group is counting on summer sales, an important lever to revive activity and limit breakage following the global epidemic of coronavirus. But the postponement of the dates of the latter, proposed by Bercy, does not delight the director general, favorable to a much more limited time lag.


The period of the summer sales being scheduled to take place from June 24 to July 28, it thus still seems difficult to maintain them in the context of progressive deconfinement.


Nicolas Houzé therefore explains that a slow recovery will weigh on revenues for the year 2020, and confirms that the group should lose around 1 billion euros in turnover.


The group awaits the reopening, scheduled for May 11, of its stores and more particularly that of the Boulevard Haussmann.


He also finds himself penalized by the absence of tourists in Paris, when they represent half of his clientele.


Thus, the results are already very heavy for Galeries Lafayette and a return to normalcy for its activities seems very long. Nicolas Houzé sees no changes and no return to normal for his store before the second half of next year.


As a reminder, the CCF, the Confederation of French merchants, proposed, on 2 April to postpone the summer sales for at least one month.


Independent traders, however, evoke fears about large retailers, as reported by BFM: “In addition to concerns about the closure of their businesses, there is the anxiety of seeing aggressive discount policies appear on the part of large players in the trade, who already promise large-scale promotions




Read also >Deconfinement in France : Pierre Hermé’s patries are once again available in Paris and surrounding area


Featured photo : © Galeries Lafayette[/vc_column_text][/vc_column][/vc_row]


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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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