El Corte Inglés: H1 FY 2019 results

Date : 22 November 2019

Spain-based El Corte Inglés has announced an increased turnover of 1.3% in the first half of FY 2019. The group is divided into retail, travel, fashion, insurance, technology and a new addition of real estate.

Sales performance  

The retail division increased its turnover by 1% year-on-year to €6,036m. The food sector increased its sales substantially in supermarkets and hospitality. The travel division increased turnover by 2.6%, El Corte Inglés said this growth was driven “by the positive development of the holiday segment and by the evolution in Latin America’’.

The insurance sector has increased in turnover by 8.8%. The technology division has a decreased turnover of 7.1%. Separately, the group has generated a Real Estate sector with the plan of focusing on the development and management of its own portfolio.

Technology and sustainability

El Corte Inglés’ online channel has announced a growth in 2019, it expects to launch a new app for 2020. Meanwhile, the group has launched a sustainability movement in all areas of the business, the main objectives of the project are to ‘build a healthier, sustainable and more prosperous environment for the planet’.

The group has announced it has a sustainable packaging policy, which aims to increase the amount of sustainable resources used. El Corte Inglés’ shopping bags are certified as sustainable and reusable, operating towards its commitment to the environment.

 

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