El Corte Inglés news and archive

Leadership change at El Corte Inglés: Cristina Álvarez named new chairwoman

Madrid – Spanish department store group El Corte Inglés has announced a significant leadership transition within its board of directors. Marta Álvarez has decided to step down as chairwoman, with her sister, Cristina Álvarez, appointed as the new non-executive chairwoman. The proposal was unanimously approved by the board on November 26....

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Business

Labor dispute in Spanish retail: New complaints against El Corte Inglés

New complaints have surfaced within the retail division of Spanish department store giant El Corte Inglés, compounding the legal challenges already raised by more than 200 employees from its logistics subsidiary. The General Confederation of Labor (CGT)—the Spanish union behind the first-ever workers’ protest in the company’s history earlier...

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Business|In Depth

El Corte Inglés targets "Net Zero" by 2050 with new sustainability plan

Madrid - El Corte Inglés, the Spanish department store group, has launched its new 2025-2030 Sustainability Master Plan, reaffirming its commitment to environmental responsibility. The plan is a comprehensive roadmap aimed at achieving "Net Zero" status by 2050, with a focus on minimizing the company’s environmental impact and reducing...

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Business|In-depth

El Corte Inglés reduced its international business by 20 percent and laid off over 900 employees in a year

Madrid - Following multiple confirmations of its positive trajectory and the announcement of its best revenue figures in 14 years for fiscal year 2024, El Corte Inglés has now released its consolidated accounts, providing a comprehensive view of its global business model. This detailed disclosure follows the department store giant's commitment...

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El Corte Inglés completes 500 million euro debt issuance

Madrid – El Corte Inglés, the Spanish department store group, has successfully completed a debt issuance totalling 500 million euros. The placement was executed through a bond issue with an interest rate of 3.5 percent and a maturity date in July 2033. According to details provided by the Spanish company's management, the transaction received...

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El Corte Inglés ends 2024 with its highest revenue in 14 years

Madrid – Spanish department store group El Corte Inglés (ECI) presented its financial results for the 2024/2025 financial year. This period, which ended on February 28, saw the company, chaired by Marta Álvarez, achieve its highest revenue in 14 years. According to information provided by the management of the Spanish group, ECI ended its last...

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People

El Corte Inglés appoints Gastón Bottazzini as CEO

The Spanish retail and services group El Corte Inglés has a CEO once again. On Friday, shareholders approved the appointment of Gastón Bottazzini as the new CEO at the annual general meeting. The position had been vacant since Víctor del Pozo resigned in spring 2022. Since then, general managers José María Folache and Santiago Bau had jointly...

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Fashion

The most iconic department stores around the world, ranked

Department stores have long been a staple in the shopping world. They are the markers of a downtown shopping area, the axis upon which one plans their day out on the town. And despite the rise in online shopping, and downfall of many department stores during the Covid-19 crisis, there are certain giants that continue to be seen as truly iconic...

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Business|ANALYSIS

Debunking El Corte Inglés’ growth strategy

Madrid- The English Court held its first shareholders meeting this weekend led by the group's new president, Marta Álvarez. The department store operator unveiled the keys to its strategy for the next two years: new own brands, digital acceleration and greater internationalisation. Marta Álvarez was premiering as president of El Corte Inglés at...