El Corte Inglés reports flat sales for H1 2018 as hopes focus on lucrative Christmas period for sales boost

Europe’s largest retailer expects to make most of its sales in the second half of the year

Spanish department store chain El Corte Inglés has reported sales of €7.58bn for the first half of 2018 (01 March to 31 August), a rise of 0.4%. 

It is the first time the group has reported results for the first half of the financial year.

The company described the results as ‘positive’, and added that it makes most of its sales in the second half of the year. 

EBITDA was €355m, a rise of 4.4%, and all areas saw improved margins, which the company put down to new management and ‘strategic actions’ it has taken. 

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