El Corte Inglés has announced your fiscal year 2021 results which runs from March 2021 to February 2022, a period in which it has been able to demonstrate its economic recovery after the strong impact of the Covid-19 health crisis.
First highlight the net profits of 120 million euros obtained in this fiscal year, managing to recover from the losses of 2,945 million that it registered in 2020.
Specifically, the group closed the last fiscal year with a turnover of 12,508 million euros, which represents 21.98% more than last yearwhich has boosted EBITDA up to 804 million euros, that is, 756 million more than the previous year.
The eCommerce of El Corte Inglés falls 5 percentage points
Despite the great figures that denote its recovery, its electronic commerce has been affected: while in 2020, online sales accounted for 17% of total sales, in 2021 this percentage stood at 12.3%.
That is why, in order to promote omnichannel and digital transformation to further integrate its digital and physical sales, El Corte Inglés has launched the services of Extended Catalog and Expert Consultation. With the Extendió Catalog, it expands the products that customers can access from any commerce center. For its part, with the Expert Consultation service, you want to offer online advice from a seller by means of chat, telephone or video call.
Fashion has been its main engine of recovery
The company already remembers its worst annual financial year like a bad dream, 2020 was the first time they presented losses, thanks to the fact that purchases in the centers have been reactivated and have been registered €11.3 billion in salesespecially in the area of fashion that has grown 49% over the previous year.
Although the variants of the Covid made themselves felt at Christmas, the most difficult time for department stores, the company has managed to come out well: “This positive evolution has been possible thanks to the planning carried out in advance to guarantee the availability of stock, especially in the Christmas season, as well as the efficient negotiation with suppliers”.
inside retail fashion has experienced the greatest growth, with a turnover of 4,090 million euroswhich represents 48.8% more than in the previous year.
On the other hand, sales of home and household appliances are located above 1,302 million euros, 11.3% more, while the area of culture and leisure grew by 11.5% with a turnover of 2,145 million. With regard to food, the volume of sales stands at 2,648 million, a slight decrease of 4.8%.
One of the weak points of the group was the debt, which during the past year stood at 3,514 million euros, however, thanks to the strategic alliance agreement signed with the Mutua group, it has been able to reduce considerably to 2,555 millionthe lowest level in the last 15 years.
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