The El Corte Inglés Group delivers positive EBITDA
What: The El Corte Inglés Group reports positive EBITDA for the second quarter.
Why it is important: The group has managed to boost liquidity and reduce costs, while driving its online business and omnichannel strategy.
The El Corte Inglés Group reported EBITDA of EUR 64 million for the second quarter (June-August 2020) of its financial year, driven by online sales and store reopening. Sales totalled EUR 2,817 million and gross profit EUR 811 million in 2Q despite the sharp negative impact of the pandemic, especially on the travel business.