El Corte Inglés reports 8.4 billion euros in revenue and an 11.5 percent profit increase in first half

Madrid – Spanish department store group El Corte Inglés (ECI), which owns fashion chain Sfera among other businesses, has recorded a strong start to the year. This follows the results posted for the first half of its current 2026 financial year. During the six-month period from March 1 to August 31, 2026, the company, chaired by Cristina Álvarez, accelerated its growth rate in both revenue and profit compared to the same period a year ago.

According to information released by the Spanish company's management on the morning of Thursday, November 12, 2026, ECI recorded total revenue of 8.4 billion euros (9.31 billion dollars) during the first half of its current financial year. This figure represents a growth of +2.3 percent compared to the 8.21 billion euros generated during the same period last year, when it grew by just +0.09 percent year-over-year.

Breaking down this figure, the company placed its turnover for the period at approximately 7.23 billion euros. This value also reflects a positive like-for-like growth of +2.6 percent compared to the 7.03 billion euros generated by its core activity during the same period in 2025. Under the same conditions during that previous first half, turnover grew by just +0.7 percent YoY.

Regarding profitability indicators, ECI increased its EBITDA during the first half of the year to 562 million euros (+4.2 percent YoY growth). Net profit rose to 249 million euros, up +11.5 percent, compared to a year ago when it increased by +10.32 percent. This boost in profitability and earnings translated into a recurring net profit of 210 million euros (+9.1 percent). This compares to the 192 million euros (+14.28 percent) recorded last year, which represented a higher growth rate than that posted at the start of the 2026 financial year.

“The strength of the balance sheet and the cash flow generation achieved in these first six months have also allowed the group to increase investments, with 294 million euros allocated to commercial, logistical and technological transformation,” the Spanish company's management stated regarding its first-half performance. Management also highlighted that “the strength of ECI” was “reflected in the stabilisation of net financial debt at 1.62 billion euros, representing 1.3 times EBITDA.”

Fashion and beauty division serves as key business

Analysing the company's performance across its main business lines, ECI noted that its retail business remained its primary source of revenue and main growth driver, rising +3.3 percent in LFL terms. This increase was underpinned by sales recorded in its fashion and beauty divisions, which reached 2.78 billion euros (+4 percent); home and electronics, which reached 1.25 billion euros (+4.8 percent); as well as a strong performance in the online channel. Completing its revenue streams, sales in the food business remained stable at 1.4 billion euros.

Regarding the rest of its main business lines, travel division Viajes El Corte Inglés recorded a positive performance during the second half of the six-month period. Revenue grew by +1.9 percent YoY, despite an “international environment marked by geopolitical tensions.” In terms of its financial businesses, insurance arm Seguros El Corte Inglés recorded a revenue increase to 160 million euros (+4.9 percent) and a net profit rise to 41 million euros (+5.9 percent). Financial services division Financiera El Corte Inglés saw revenue rise to 98 million euros (+3.5 percent). Its net profit—the total amount of which was not disclosed—grew by +2.4 percent, matching that of Seguros El Corte Inglés when excluding the effects of extraordinary operations.