Where it all began: The first El Corte Inglés store in Madrid in the 1930ies.

El Corte Inglés had a satisfactory year

Where it all began: The first El Corte Inglés store in Madrid in the 1930ies.

Where it all began: The first El Corte Inglés store in Madrid in the 1930s.

Given the generally difficult economic environment in Spain, El Corte Inglés, the country’s large department store chain and operator of specialty sports stores as well as supermarkets, managed to present satisfactory figures for the financial year 2013. Consolidated sales were slightly down by 1.8 percent over the previous year to €14.29 billion.

Net profit was up by 6.2 percent to €174.3 million. Earnings before interests, taxes and write-offs (Ebitda) decreased by 0.7 percent and reached €728.2 million. Management sees the figures in line with the general development in Spain, especially in regard to a substantial upward trend in the fourth quarter. Staff levels remained similar to the previous year’s 93,300 employees of which 94 percent have unlimited working contracts.

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