Looted stores in France: Fashion retailers suffer sharp drop in revenue

Paris - Fashion stores recorded an average revenue drop of 14 percent across France on Saturday, the day of the protests, the Alliance du Commerce reported on Monday. This decline was particularly pronounced in city centres.

Indeed, city-centre boutiques and shopping centres, which were particularly affected by the damage during the October 17 demonstrations, saw their sales plummet by 34 percent and 40 percent respectively.

Cities in the Rhône-Alpes region also suffered heavily with drastic drops in revenue: -84 percent in Clermont-Ferrand, -79 percent in Saint-Étienne, -77 percent in Grenoble and -66 percent in Lyon.

Western France was not spared either, recording -74 percent in Brest, -68 percent in Tours, -67 percent in Rennes and -66 percent in Nantes.

Finally, in Paris, the average decline was -27 percent. This figure was "very variable depending on the district", with areas hosting the marches on the front line.

Consequently, stores in the République-Grands Boulevards-Haut Marais area recorded a 59 percent drop in sales; those on the Champs-Élysées fell by 45 percent; and those in the Opéra-Madeleine-Haussmann area, which is home to department stores Le Printemps and Galeries Lafayette, dropped by 32 percent.

"We now ask that every effort be made to restore calm and re-establish security for businesses, employees and individuals in the city centre," the Alliance du Commerce commented in a statement sent to Agence France-Presse (AFP).

The trade association, which brings together department stores and major clothing retailers, also welcomed the implementation of 100 percent furlough starting on Tuesday.

On Monday, the government announced a series of measures to support the approximately 3,000 businesses affected by damage and looting. These include a dedicated support fund for affected stores, access to zero-interest cash flow assistance and an extension of the insurance claim declaration deadline from five to 30 days.