For the 2026-2027 financial year, which begins on March 1, the Spanish group El Corte Inglés is setting aside €650 million for store renovations, the development of technological and logistical capabilities, and the expansion of its activities.
Financially sound company
This budget is part of the €3 billion strategic investment plan until 2030, which the company announced last summer. El Corte Inglés is publishing the news on the day that Cristina Álvarez officially takes up the role of non-executive chair at the retailer. She was appointed chair on November 26, succeeding her sister Marta. The new chair will maintain the current management structure, which was reorganized in October following the departure of Gastón Bottazzini as CEO.
Álvarez inherits a financially healthier company in growth mode. El Corte Inglés closed the last financial year (ending in February last year) with a net profit of €512 million. Debt now stands at €1,738 million, almost half the level in 2019. Group turnover in the last financial year was €16.7 billion, compared to €16.3 billion in 2023.
