Marta \u00c1lvarez has officially stepped down as the president of El Corte Ingl\u00e9s after more than six years, marking a significant transition in leadership. Her sister, Cristina \u00c1lvarez, has been appointed as the new non-executive president, a decision that was unanimously approved by the Board of Directors in a recent meeting. This move is characterized as a “personal and voluntary” choice by Marta, who communicated her decision through a letter to shareholders.<\/p>\n
The official change will take effect on January 15, 2026<\/strong>. During the Board meeting, Cristina expressed her gratitude to her sister, acknowledging the “magnificent work” Marta accomplished during her tenure. She committed to leading the company with humility, emphasizing her dedication to the best interests of shareholders, employees, and customers.<\/p>\n Marta’s departure comes as El Corte Ingl\u00e9s undergoes internal restructuring. Just a month prior, the company experienced a shake-up with the resignation of CEO Gaston Bottazzini<\/strong>, who had been at the helm for only a year. Bottazzini’s tenure was marked by efforts to implement a strategic plan aimed at investing \u20ac3 billion<\/strong> to modernize the company by 2030.<\/p>\n Even after stepping down, Marta will maintain a role within the organization. She will continue as a member of the company’s Monitoring Commission<\/strong> and will oversee the strategic direction of Own Brands, Fashion, and Home. She has expressed her full support for Cristina, affirming her belief in the company’s future direction.<\/p>\n Amid this leadership change, El Corte Ingl\u00e9s has reported solid financial performance for the first half of the 2025-2026 fiscal year. From March 1 to August 31<\/strong>, the Group achieved \u20ac8.2 billion<\/strong> in global revenue, with comparable turnover seeing a modest increase of 1.6%<\/strong> to reach \u20ac7.03 billion<\/strong>.<\/p>\n The company has also shown improvements in its profitability metrics. The Ebitda<\/strong> grew by 3.8%<\/strong> to \u20ac539 million<\/strong>, while the net profit<\/strong> surged by 10.3%<\/strong> to \u20ac224 million<\/strong>. Additionally, the recurring net profit advanced by 13.8%<\/strong>, attributed to enhanced management efficiency.<\/p>\n In the retail sector, El Corte Ingl\u00e9s reported global revenues of \u20ac5.9 billion<\/strong>, alongside a turnover of \u20ac5.65 billion<\/strong>, representing a 1.2%<\/strong> increase on comparable terms. Notably, segments such as fashion and beauty showed significant growth, particularly in the company’s own brand and sales of external brands.<\/p>\n The travel division also fared well, with global income reaching \u20ac2.05 billion<\/strong>, a turnover of \u20ac1.26 billion<\/strong>, and an increase of 3.3%<\/strong> compared to the prior year. The company has solidified its leadership position within the vacation segment, which grew by 5.3%<\/strong>.<\/p>\n El Corte Ingl\u00e9s’s financial services have also demonstrated resilience. The income from Seguros El Corte Ingl\u00e9s<\/strong> climbed by 11.1%<\/strong> to \u20ac153 million<\/strong>, while their net profit increased by 22.9%<\/strong> to \u20ac43 million<\/strong>. Furthermore, the income from Financiera El Corte Ingl\u00e9s<\/strong> grew by 5.7%<\/strong> to \u20ac95 million<\/strong>.<\/p>\n A significant aspect of the company’s financial health is the reduction in net financial debt, which now stands at \u20ac1.74 billion<\/strong>, down \u20ac195 million<\/strong> from August 2024, signaling robust cash generation and strategic investment opportunities.<\/p>\n As El Corte Ingl\u00e9s embarks on this new chapter under Cristina \u00c1lvarez, the company anticipates positive outcomes for the upcoming autumn campaigns, especially with key events like Black Friday<\/strong> and Christmas<\/strong> on the horizon. With a focus on efficiency and strategic investment, the company is well-positioned to continue its legacy as a major player in the retail landscape.<\/p>\nContinued Involvement<\/h3>\n
Positive Financial Results<\/h2>\n
Profitability Gains<\/h3>\n
Retail and Travel Sectors Thrive<\/h3>\n
Strengthened Financial Position<\/h3>\n
Looking Forward<\/h3>\n