El Corte Inglés recovers the profitability in Portugal

The next plans of ECI in Portugal go through a new opening in the city of Port wine

Editorial
27 of September of 2022
Save
El Corte Inglés Portugal
El Corte Inglés Portugal

In the closing of the exercise of 2021, El Corte Inglés went back to obtain, again, profits, with a figure that reached the 17 million euros. In the past 2020, El Corte Inglés Big Armazéns (like this is as it designates him in the Portuguese country) had to assume some losses of 61 million euros.

In the year 2001, the group El Corte Inglés decided to open borders and build the first establishment in Lisbon. 5 years afterwards, seeing the results obtained, installed also in Port wine. El Corte Inglés never had assumed negative results in his economic exercises, except the year in which the pandemic affected gravely to the trades and big warehouses. Specifically, to these last, the derivative restrictions by the COVID-19, prejudiced them even more since by the big dimensions of his surfaces cost them more reopen his points of sale.

The plans of the group go through a next opening

In view of the last results, El Corte Inglés Big Armazéns, will inaugurate in the next months a new big warehouse in the city of Port wine, situated specifically in the ancient station of train of Boavista. This new opening has supposed an investment of 52,6 million euros. As it details in 'Five Days', this new project will state of the lifting of a big warehouse and of a back hotel to the demolition of the station of Boavista.

At present, El Corte Inglés, has more than 3.300 workers in the Portuguese  country and has until 8 own shops by his textile chain Sfera, and delegations of his line of businesses related with the insurances and consultancy of trips.