August 11, 2020

The English Court unanimously approves all the proposals of the Council – The Province

The English Court unanimously approved on Sunday all the proposals of the Board of Directors in thegeneral meeting of shareholdersheld this Sunday in Madrid.

In this way, the Assembly of partners gave the green light to themerger by absorption between the entity and Bricorand approved the annual accounts, the management report and the proposal for the application of results, as well as the management of the Board of Directors for the year 2018. In addition, the mandate as director ofManuel PizarroIt has been renewed with the support of the Shareholders' Meeting.

The English Court is "a systemic company for the Spanish economy, a generator of wealth and employment, a promoter of ideas capable of creating innovative commercial concepts, setting trends and putting us at the forefront. We have been doing so for almost 80 years. With enthusiasm, with commitment, with firmness and sensitivity; with innovation, "said the presidentMarta Alvarezduring the celebration of the Board.

The English Court reached a consolidated turnover of 15,783 million euros, which represents a1.1% increase over the previous year. The El Corte Inglés Group also managed to raise its gross margin by 1.5% to stand at 4,696 million, and the consolidated net profit increased 27.7% to 258.2 million euros.

Woman The English Court

The president detailed the three areas of action of El Corte Inglés in relation tothe innovation: adapt the department stores to the demands of consumption, promoting their own brands, the progress in digital transformation, and the development of new businesses and services.

He also recalled the launch of the women's fashion brandWoman The English Courtand announced that "in 2020 new brands will come to light in which we have been working with enthusiasm and enthusiasm in recent months: Alik.

Marta Áñvarez stressed that the company's business is based "on the product and people" and has made an important commitment to sustainability.


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