El Corte Inglés posts 2% rise in FY 2016 sales

 

Spain: Spain-based El Corte Inglés, has announced financial results for the fiscal year 2016. During the year under review, the company noted a 7.5 per cent increase in EBITDA to € 981 million. Sales at El Corte Inglés soared for the third consecutive year. In the reporting period, the retailer’s sales increased by 2 per cent to settle at € 15.51 billion.

Spain: Spain-based El Corte Inglés, has announced financial results for the fiscal year 2016. During the year under review, the company noted a 7.5 per cent increase in EBITDA to € 981 million. Sales at El Corte Inglés soared for the third consecutive year. In the reporting period, the retailer’s sales increased by 2 per cent to settle at € 15.51 billion.

Additionally, the company’s key El Corte Inglés department store business reported a 2.8 per cent surge in sales to € 9.72 billion. El Corte Inglés’ consolidated net profit increased by 2.4 per cent to reach € 161.86 million. Its operating income noted a 6.8 per cent increase to € 319 million as compared to the previous year.

Sfera, the fashion and accessories division of El Corte Inglés, reported a 5 per cent boom in gross sales to € 446.9 million in FY 2016. During the reporting period, Sfera launched 19 own stores and over 70 outlets in other markets.