“All 83 stores are in the black,” entrepreneur Bernd Beetz told the Düsseldorf-based Handelsblatt newspaper. “Overall, we have been in the black in every month of the new financial year since October 1, 2024 and have exceeded our internal expectations,” explained Beetz. “We are therefore very positive that we will also close the entire current financial year with a profit.”
For the current year, Galeria is aiming for an increase in sales of around 500 million euros, expecting an annual turnover at just under 2.5 billion euros – after around two billion in the previous financial year. The chain is planning extensive investments in the modernization of its store portfolio. According to Beetz, there is a clear conversion plan that is to be implemented over the next five years. While at some locations major renovations are necessary, smaller measures can already bring noticeable improvements at other stores.
In January 2024, Galeria filed for insolvency for the third time in just a few years after the department store chain ran into difficulties in the wake of the Signa insolvency. In April, a consortium consisting of the US investment group NRDC Equity Partners and Bernd Beetz’s investment company BB Kapital SA took over the department store chain from Signa.
