El Corte Inglés Reports Its Best Performance Since 2007
Spanish retailer El Corte Inglés has registered its biggest full-year growth since 2007. Last year, consolidated net profit for the retailer reached €158.13 million, an increase of 33.92% year on year. At the same time, the company's debt saw a reduction of €1,260 million.
Dimas Gimeno, president of the group, said that its "objective must be to maintain and accelerate the path to recovery", as well as to grow in sales, market share and profitability.
Gross operating profit (EBITDA) exceeded €912.5 million, 10.4% more than the previous year.
Investment has remained above the €350-million mark and was largely associated with projects, renovations and refurbishments of shopping centres.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.