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El Corte Inglés invoices 41% less in its first fiscal semester


The group The English Court it has invoiced 41% less in its first fiscal semester despite reaching a positive Ebitda during the second quarter of the year (June to August 2020) of 64 million euros thanks to the reopening of stores and online sales. The consolidated turnover during this period was 2,817 million, with a gross profit of 811 million euros.

The impact of the pandemic has been felt, especially in activities related to tourism. In fact, the most affected area has been Viajes El Corte Inglés, that has seen its turnover reduced by more than 90%.

Excluding the effect of tourism, retail sales have remained practically stable during the quarter. Total retail turnover was 2,843 million, 12.9% less than the same period of the previous year, due to the lower influx of tourists, both national and international. Regarding the margin on sales, it increased 170 basis points during the second quarter compared to the first, to stand at 26.7%.

After a first quarter conditioned by the general closure of establishments (except for food and basic services), cash generation from June to August stood at 679 million euros thanks to increased sales, the positive impact of cost savings and purchase management, as well as other complementary measures and actions.

. (tagsToTranslate) Court (t) English (t) invoice (t) minus (t) first (t) semester (t) fiscal (t) Category: All (t) Category: Market Report (t) Category: Company News ( t) Category: Pulsos (t) Category: Market Pulse

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