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MOSCOW (Sputnik) – The income of Galeries Lafayette, France’s main division retailer chain, is anticipated to lower by half as a result of coronavirus disaster, the group’s managing director, Nicolas Houze, advised the BFM Enterprise broadcaster on Friday.
“Our income figures for this yr will fall by half … The shop visitors [will return to pre-crisis levels] in 2024”, Houze mentioned, blaming such forecasts on the well being disaster, which precipitated the closures of shops for months, one thing by no means seen by the corporate.
The corporate official additionally mentioned that over 60 % of the corporate’s flagship retailer are worldwide vacationers, which makes the state of affairs for Galeries Lafayette particularly troublesome, because the pandemic has hit tourism and commerce sectors significantly arduous, together with resulting from journey restrictions.
On this regard, Houze went on, the following yr may even be robust when it comes to income losses, and solely 2022 is more likely to mark the corporate’s return to the break-even level.
The shop chain was based in 1893, with its flagship retailer positioned in Paris, and different departments working in different elements of France and overseas. In 2009, it has earned over a billion euros (greater than $1,187 billion).
The second coronavirus outbreak in France erupted in early fall and considerably intensified in October, prompting the federal government to introduce one other nationwide lockdown beginning 30 October and final till not less than 1 December. Other than journey restrictions, the federal government has additionally ordered for closures of non-alimentary outlets, companies and public amenities to curb the unfold of the virus.
As of Friday, France has reported 2,086,288 COVID-19 infections and 47,127 associated fatalities.