Economy: Spain’s flagship store posts record losses, El Corte Inglés hit by Covid-19 pandemic
FLAGSHIP department store chain El Corte Inglés has recorded record annual losses for 2020 after being hit by coronavirus lockdowns and the collapse of tourists arriving in Spain. One of the country’s largest private employers, it posted a net loss of €2.9 billion in the 12 months to the end of February – compared to a net profit of €310 million for the same period a year earlier. The department store […]
