El Corte Inglés annual turnover driven by clothing, jewelry and beauty products
In the year to February 2015, Spanish department store El Corte Inglés recorded over 7 billion euros in sales of clothing, jewelry and beauty products. According to data from the Spanish Chamber of Commerce (CEC in Spanish), this means these segments accounted for 25% of the company’s annual sales.
Beauty, fashion and jewelry products accounted for more than half of retailer’s turnover last year (51.5%), as shown by data from the company’s debt issue released in December. Sales were 4.305 billion euros in this period, up from 3.858 billion in 2014.
Sales of home products, including appliances, textiles and furniture grew by 25% year-on-year, representing a 10.9% of the total turnover and reaching 918 million euros, up from 794 million euros in the prior year’s period.
Sales of leisure and food products showed a decline in the year to February 2015, representing a 22.4% and 11.7% of the total sales respectively.
Although the Spanish group, led by Dimas Gimeno, does not release its results for the holiday season, the reduced prices in January are expected to reflect the store’s economic recovery. The department store employed over 7,000 new employees over the Christmas season.
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