El Corte Inglés has taken one of its four buildings at Madrid’s iconic Puerta del Sol – the one at number 10 – and remade it in sportwear’s image. According to the Spanish retailer, all floors have seen their selections, brands and exclusive collections expanded.
The bottom floor is now dedicated to sneakers, with such brands as On Running, Saucony, Hoka, Under Armour, Asics and Salomon making their debut. In stock as usual are sneakers by Vans, Converse, New Balance and Puma.
The next three floors up are dedicated Adidas, Nike and Under Armour respectively, each presenting both footwear and apparel.
The next floor up, according to El Corte Inglés, presents central Madrid’s largest selection in football, with kits from Real Madrid, FC Barcelona, Atlético de Madrid, Manchester City, Borussia Dortmund, AC Milan, Girona and Valencia. Also located there are the store’s offerings in basketball, with apparel from various NBA teams (e.g., Lakers, Bulls, Celtics) and the Jordan and Lebron James collections.
More to come?
According to Expansión, El Corte Inglés, under new Chairwoman Cristina Álvarez, is planning a significant rise in capital expenditures. Just in the forthcoming financial year (to begin March 1) the retailer is looking to invest €650 million – or about 20 percent of the €3 billion planned for the five-year plan running through 2030. From 2018 to 2024, by contrast, annual capex hovered between €350 and €490 million. The current year’s figure is not yet public, but the company did spend €217 million in the first half.
Most of the €650 million will be going toward tech, logistics and store remodeling. One of the stores in view is at Princesa, near the university in Madrid.
Álvarez herself, as a board member, was involved in expansions of the store at Puerta del Sol.
As we’ve reported, El Corte Inglés generated revenues of €16.7 billion for fiscal 2024/25 (ended on Feb. 28), for a year-on-year increase of 2 percent (4.3% like-for-like). Pre-tax income amounted to €682 million, yielding net income of €512 million, up 6.7 percent.
