Due to the impact of the new crown epidemic, Paris’s most popular department store Galeries Lafayette closed for nearly 2 and a half months. Although it has now been reopened, the operating hours have been shortened, and the flow of people is not as large as before, resulting in heavy losses!
Galeries Lafayette CEO Nicolas Houze pointed out that the COVID-19 pandemic has brought the company losses of 1 billion euros or more. Although the stores have reopened, due to travel restrictions in various countries, tourists are almost non-existent in Paris, and this situation may continue until the end of the year. The final amount of losses is still an unresolved issue!
