El Corte Inglés reported a 3.9 percent drop in its total revenues to €15.77 billion for the financial year ended last Feb. 28. Operating earnings before amortization fell by 18.8 percent to €826 million, and net earnings declined by 34 percent to €210 million. Department store sales fell by 4.2 percent to €9.21 billion, and they generated an operating profit of €298 million. The leading Spanish retail group, which has an important position in the country's sporting goods market, feels that it maintained its overall market share as the Spanish retail sector suffered a 5.6 percent decline in 2011. It noted a drop in the average ticket at the cash register and a trend by consumers to go for lower-priced products and promotions. Traffic on its e-commerce platform increased by 18.4 percent to 122 million visits, and El Corte Inglés is considering expanding it to other countries.

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