What: El Corte Inglés raised capex to €577 million as it accelerated digital transformation, AI, logistics and retail network renewal.
Why it is important: The investment shows how El Corte Inglés is using stronger finances to modernise stores, logistics and technology while preparing for its next strategic phase.
El Corte Inglés increased investment by 9.4% in its 2025 financial year, reaching €577 million compared with €527.85 million the previous year. The spending supports the group’s strategic priorities, including digital transformation, omnichannel consolidation, logistics optimisation, store operations and retail network modernisation. The largest share of capex went to materials and construction, which rose 11.85% to €321 million. This mainly covered department store renovations, adaptation of retail spaces and expansion of other commercial formats. Technology investment also remained high at €237 million, slightly above the previous year’s €233 million. The technology budget focused on omnichannel development, logistics, store operations and Viajes El Corte Inglés. Projects included new digital platforms, analytics, artificial intelligence, cybersecurity, corporate platform modernisation, predictive models for personalisation and forecasting, real-time logistics traceability and new management and data analytics tools. The group also invested €19 million in other initiatives linked to technology, fashion, home services, security and travel, while divesting only non-strategic assets.
IADS Notes: El Corte Inglés’s 9.4% capex increase confirms that the group is moving from balance-sheet repair toward a more investment-led transformation. In July 2025, Modaes and Fashion Network reported the launch of a €3 billion investment plan through 2030, focused on store modernisation, business expansion, logistics and technological capabilities. The next phase was reinforced in July 2026, when Modaes reported that Cristina Álvarez would present an updated strategic plan in September, with stores, digital growth, AI, logistics and operational transformation positioned as priorities. The group’s ability to fund this agenda was supported by its June 2026 results, when a company press release reported double-digit profit growth, record-low debt, digital transformation, store modernisation and logistics innovation. Modaes also reported in January 2026 that Álvarez had strengthened digital, customer experience, operations and supply chain leadership while reorganising purchasing to improve category expertise and agility. By April 2026, Modaes framed the group’s direction as a shift toward growth through acquisitions, increased investment, digital transformation, logistics and organisational renewal.

El Corte Inglés increased its investment by 9.4% in FY2025, to €577 million