PARIS — Boosted by retail expansion and market share gains in women's wear, French retailer Groupe Galeries Lafayette on Wednesday said profits rose 22 percent last year and revealed plans to launch its first online flagship.
Net profits for the group — which includes the Galeries Lafayette, BHV, Monoprix and Laser businesses — reached 256 million euros, or $350.9 million at average exchange, in the year ended Dec. 31 from 210 million euros, or $287.9 million, the previous 12 months. As reported, sales rose 6.5 percent to 4.96 billion euros, or $6.8 billion. Operating margins increased 8.7 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)