Galeria Kaufhof: developments in the department store business
Sales in the department store segment in Germany have continued to contract during the period under review. This trend has also been true for sales of textiles and clothing, the focal points of department stores’ assortments. However, this decline has been lower than the downturn experienced by the department store segment in general. The opposing market trend taken by different sales channels has continued in 2013: while mail-order sales have continued to rise significantly as a result of online sales in the textile and clothing market, sales produced by stationary stores have continued to decline. Galeria Kaufhof has bucked this trend, improving its textile and clothing sales and gaining additional market share in this segment. On a like-for-like basis, Galeria Kaufhof has also produced sales growth throughout the entire assortment.
In Belgium, the market environment has remained challenging and has dragged down Galeria Inno sales.