What: Société des grands magasins (SGM) maintains that BHV is financially stable and announces the sale of the men's building.

Why it is important: This development highlights SGM's strategic efforts to stabilize and revitalize BHV, addressing financial concerns while planning significant structural changes to optimize operations and enhance customer offerings.

The start of the school year has been tense for BHV, as concerns about its future were raised by the inter-union. In response, SGM, which acquired BHV in November 2023, reassured stakeholders by detailing its financial strategies and investments. Despite a 5% decline in sales this year, BHV reported a positive EBITDA of EUR 150,000 by July 2024, a significant improvement from last year's EUR 10.8 million loss. This turnaround is attributed to cost control measures without a social plan, although some positions will not be refilled.

SGM has recapitalized BHV with EUR 38 million and plans further investments to ensure autonomy by 2026. The men's building on rue de la Verrerie is set for sale to generate liquidity, with plans to relocate the men's section to the main building by 2026. This move will consolidate fashion offerings while expanding dining options. Despite these efforts, staff concerns persist due to issues like empty shelves and supplier contract disruptions.

SGM asserts BHV's stability amidst changes