German department store chain Galeria is facing disappointing results, partly due to increasing concerns about safety in city centres. So says co-owner Bernd Beetz in an interview with Focus magazine. Beetz had previously predicted sales to reach EUR 2.5 billion in 2025, but is now postponing this expectation by several years. Still, he expects all branches to be profitable this year.
Besides the "almost depressed consumer attitude of Germans", Beetz cites the issue of safety in cities as a real problem. "Think of the terrible attacks, from Berlin to Mannheim. The consequences are really far-reaching. Our branch in Mannheim is still experiencing the impact of that."
According to Beetz, this is clearly reflected in the statistics, especially among women. "In some cities, we notice that more and more people are reluctant to go into the city centre after sunset. That worries me a lot," said Beetz, who took over Galeria last year together with Canadian department store entrepreneur Richard Baker.
Source: Focus