El Corte Inglés reports a 512m-euro profit last year on sales of 16.7bn

Spain's largest and best-known department store group is in great health financially. El Corte Inglés made 512 million euros in net profit in 2024, 6.7% more than the previous year.

The privately owned group, which includes the main high-street retail division as well as food and beverage and travel businesses, among others, had 16.68 billion euros sales in its latest financial year which ended on 28 February, 2% more than a year earlier and reduced its debt to 236 million.

The firm said the stronger performance was due to improvements in management, a focus on customer service and continuous improvement and innovation in its products.