4 September 2020
The Weekly

The first semester of El Corte Inglés' fiscal year (March 1 to August 31) has been better than feared. Sales, with two and a half months closed, have fallen 27%, according to department store sources. Men's clothing and, above all, women's clothing, had their sales falling above 40%. Sales of centre’s in foreign tourism areas collapsed. Revenues of electronic products have multiplied by five and orders by six. El Corte Inglés is planning to grow in Latin America through the fashion business Sfera, its travel division and food brands, and collaboration with local partners (for example, it sells its Club del Gourmet products in shopping centres of the Palacio de Hierro chain). El Corte Inglés increased its profits in 2019 to 25.3 M in 2019, thanks to its insurance brokerage.