El Corte Inglés, the leading Spanish department store chain, is a major factor in the country’s sporting goods market. The company reported a 19 percent decline to €10.52 billion in revenues from its retail business in the 2020 financial year, due to the Covid-19 pandemic. The drop would have been steeper without the expansion of its omni-channel operations, which led its online sales to grow by 132 percent, representing 17.3 percent of the retail turnover. The company boosted services such as same-day delivery, in-store pick-up and “Click&Car.” The group’s travel business contracted by 89 percent. Despite positive Ebitda of €142 million on total revenues of €10.43 billion, the group booked a net loss of €2.95 billion for the year after extraordinary charges of €2.5 billion.

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