El Corte Inglés cancels sale of its assets

What: El Corte Inglés backtracks and cancels the sale of two of its assets in the market, a store in Puerta del Sol and Torre Titania, both in Madrid, as a response responds to the success of its divestment plan in non-strategic assets.

Why it is important: With this plan, accompanied by the closure of some of its non-strategic shopping centres, the group seeks to consolidate its recovery and the good progress of its business in the last year when it registered a profit of 120 million euros and increased its sales by 22%.