We have obtained new figures for the sales of some of the leading Spanish sports retailers in 2020 from a Spanish market research agency, Sport Panel, leading us revise one of the charts that we published on Friday. The revised chart shows, among other things, that the Spanish turnover of the rapidly growing Iberian Sports Retail Group controlled by JD Sports Fashion remained ahead of the sporting goods sales of El Corte Inglés, the major Spanish department store chain, in spite of a major sales decline due to its limited capabilities in the online retail space prior to its acquisition of Deporvillage earlier this year. Furthermore, we think that the market declined at a higher rate than previously estimated if we exclude bicycles used for transportation while including sports bikes. According to Sport Panel, the multi-sport channel declined by 11.2 percent to €5,115 million, while the bike channel increased by 39.4 percent to €2,607.4 milllion. Putting the two together, the market increased by 1.2 percent to €7,722.7 million We apologize for the inconvenience, which was due to a confusion between sales before and after VAT. You can check the new figures for Spain on our website. We have also adjusted the related Executive Edition accordingly for you to download it from our website, if you wish.
