Galeria Kaufhof: sector development in the department store business
Sales in the department store segment in Germany rose in financial year 2013/14 for the first time in years. By contrast, textile and clothing sales, the focal points of the department stores, declined slightly overall as a result of the weak development in the fourth quarter.
The conflicting market trend taken by different sales channels continued in the reporting period. While mail-order sales continued to rise significantly as a result of online sales in the textile and clothing market, sales produced by stationary stores continued to decline.
In Belgium, the market environment remained challenging due to the economic crisis.