likecool’s blog

The English Court 2009un won 369 million in 1.5% less, and sales fell by 5.8%.

The English Court closed its last fiscal year, between March 2009 and February 2010, with a consolidated net profit of 369.17 million euros, representing a decrease of 1.5% over the previous year, in a global context back in business, in which the group's turnover fell by 5.8% to 16356.26 million.

The general meeting of shareholders today approved the company management report and results, the group's president, Isidoro Alvarez,, gaia gold, described as "encouraging the efficient responsiveness" of their equipment before the downturn and contraction consumption.

The gross operating profit (EBITDA) stood at 1066.8 million euros, 2.5% below the previous year, while the 'cash flow' increased by 2.2% to 914.5 million euros and equity, 2.9% to 7830.4 million.

The company has made a conversion of the short-term debt to long-term debt amounting, tera gold, to 1.219 billion euros.

"This is a balance that continues to show a strong business group, flexible, capable of innovation and adaptation to the harsh reality of the market," said Alvarez, who said the commercial distribution sector went through in 2009 "one of the periods more difficult and complicated history. "

The company reminded that the turnover of retail trade fell back, fallen earth chips, in 2009 by 6.1%, higher than the decline recorded by the group, while attributing the results to improve their internal management processes, with cost containment , reduced costs and improved profitability.

Results "most favorable" in 2010.

The chairman of the English Court feature in the annual report that "the company has shown strength to the difficult environment." "The decisions taken have allowed us to improve the management and efficiency, adapt to market changes and requirements and to obtain more favorable results during the months of 2010," he added.

According to Europa Press detailed in the company sources, the effort made in the management still reflected in the first months of the current year, to which is added the improvement "in macro terms." However, they pointed to the uncertain evolution of the second part of the year, which is the most important for the sector, to include bells as the 'back to school', Christmas and winter sales.

Investment cuts

The English Court will spend the last fiscal year EUR 1,071 million (the lowest amount of the last four years and 41% below the 1.827 million the previous year, which was the highest figure in its history). Most are destined for the construction of new malls, as well as the reform of existing and technology renovation.

During fiscal 2009, the group opened three stores in Salamanca, Eibar (Guipuzcoa) and shooting (Murcia), which joined in 2010 as a center of the English Court in El Ejido (Almeria) and two stores in Arroyomolinos Bricor (Madrid) and Los Barrios (Cadiz).

Future openings.

Also continued with the works of the English Court of Tarragona, whose opening is planned next month in October, and the department of La Coruna, Zaragoza and Cordoba.

For its part,"Progressing well" construction of the new building of Castellana, in Madrid (Old Windsor), which will expand the existing shopping center and give rise to one of the biggest department stores in Europe.

The English Court remarked that maintains the stability of its workforce, with more than 101 550 workers, 91% under permanent contracts. He also stressed that maintaining the flow to these hubs, with more than 653 million visits, and their customer card base has grown to eleven million.

With the results obtained in 2009, The English Court maintained its position at the top of the ranking of European stores by sales volume, ahead of Marks & Spencer, and the second worldwide, behind Sears.

In general the cooling environment of consumption, almost all lines of business were affected and implemented various measures to alleviate the impact of the business cycle, with continuous promotions, "advantageous" terms of financing and a "constant" price matching the market situation.

Stability in department stores.

For lines of business, large format stores increased their weight in the whole group, with a turnover of EUR 9650.5 million (-0.2%), 59% of the total, and a profit of 383 66 million, 1.5% higher than the previous year.

Hypermarkets 'Hipercor' were affected by the reduction of prices and margins in the sector and the reforms undertaken in schools, which is reflected in lower earnings from 35.4% to 72.51 million euros, and 16.3% in turnover, up to 2585.9 million euros. In addition, the comparison with the previous year is not homogeneous, according to the group.

The third line of business that contribute to the group (12.4% of sales) was the travel agency with a turnover of EUR 2020.6 million (-12.4%) and net profit 61.2 million (-4.8%). SUPERCOR,

Opencor atmosphere and reduce losses.

For its part, the supermarkets 'Supercor' convenience stores 'Opencor' and the fashion chain 'Sfera' cut their losses by 45%, 38.4% and 35.8%, respectively, and closed the year with a 'red numbers' of 9.5 million (Supercor), 9.12 million (Opencor) and 17.4 million (Sfera).

The area of information technologies made a profit of 39.9 million, 26.7% higher, despite reducing its sales by 17.3%, while the insurance group earned 32.46 million and Optics 2000 , 4.59 million euros. The DIY chain 'Bricor' improved revenue to 48.70 billion euros (+0.6%), but lost 7.6 million, 25.4% more, due to launch costs of new stores .

With regard to electronic commerce, the group emphasizes its leadership with a turnover of 310 million euros and announced that, after opening in May of the new online store fashion and accessories, next month will incorporate a special area of luxury brands .