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Retail

Galeries Lafayette store group could face 1 billion dollar loss

Galeries Lafayette, arguably France’s most famous high-end department store, could face a 1 billion dollar loss as it struggles in the wake of the coronavirus lockdown. “It is very hard. We reopened the Champs Elysees store on May 11 but we have to face the fact that a lot of customers are missing,” Galeries Lafayette Chief Executive Nicolas...

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In pictures: Galeries Lafayette to open new Champs-Elysées flagship this week

Iconic department store Galeries Lafayette is bound to start a new chapter this Thursday, when it moves to the building formerly occupied by Virgin Megastore on Paris’ most famous avenue, Champs-Elysées. The company expects the new flagship to attract an average of 300,000 daily visitors, considering about 300,000 people walk on the avenue on...

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