Galeries Lafayette reports "encouraging" start for Paris Christmas sales
today Dec 5, 2016
French department store chain Galeries Lafayette said the start of the Christmas shopping season at its main Galeries Lafayette and BHV stores in Paris was "encouraging", with footfall and revenue up over the last two weekends.
"There is a slight upturn around Christmas though we remain cautious," a group spokeswoman told Reuters on Monday, without providing further details.
Galeries Lafayette's main rivals include Le Bon Marche - owned by luxury goods group LVMH - and Le Printemps, which is now in Qatari ownership.
Galeries Lafayette declined to comment on a report in newsletter La Lettre de L'Expansion that a fall in its revenues next year could lead to some restructuring of its operations in France.
In September, Galeries Lafayette said a wave of Islamist terrorist attacks had deterred tourists from coming to France as it reported that sales at Galeries Lafayette and BHV Marais had fallen nearly 6% in the first half.
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