The department stores of El Corte Inglés remain a major retail channel for sporting goods in Spain. As reported in the previous issue, their sales of sporting goods rose by an estimated 0.8 percent to €427 million, excluding its two stores in Portugal. Overall, the department stores of El Corte Inglés recorded a 0.4 percent decline in their revenues to €9.61 billion for the financial year ended last Feb. 28, despite the inauguration of two new stores. Traffic on its website increased by 5.2 percent. As a group, El Corte Inglés suffered a 13.5 percent drop in net income to €319.4 million over the period. Total revenues declined by 0.3 percent to €16.4 billion and operating earnings before amortization (Ebitda) fell by 4.6 percent to €1,018 million.

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