More than a year after the conclusion of insolvency proceedings, Galeria appears to be on the right track: in the past financial year, the German department store chain achieved a turnover of more than two billion euros, with all 83 stores operating in the black.
“Galeria is functioning on its own again”
For the first time in more than ten years, the department store chain closed the fiscal year ending in September with a positive operating result that is more than 100 million euros above the level of previous years, the company reports—but exact figures are not available. “This underscores the stability of our new business model and shows that Galeria is functioning on its own again,” CEO Christian Sailer told the German Press Agency. Among other things, he points to strong growth in online sales.
