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El Corte Ingle?s SA - Coronavirus (COVID-19) Company Impact

El Corte Ingle?s SA - Coronavirus (COVID-19) Company Impact

Summary

The Coronavirus (COVID-19) company impact report analyses how the pandemic will impact El Corte Ingle?s SA performance.

El Corte Ingle?s SA is better placed than many other department chains to cope with the effects of COVID-19, due to the fact that it also has presence in essential retail formats such as hypermarkets, supermarkets and convenience stores alongside its major retail format, department stores.

The sudden surge in demand for food products and household items will have helped to compensate for some of the sales lost in non-essential products such as clothing and beauty products.

Scope

- The company's sales are now forecast to decline by 2.0% in 2020, versus a 1.3% rise in 2019 and our original 2020 forecast of +3.0%.
- El Corte Ingle?s SA's operations are mainly centred in Spain, its home market. Consumer sentiment in Spain has significantly fallen and we predict that more normal levels of retail spending, especially on discretionary product categories will not return before Q4 2020 at the earliest.
- El Corte Ingle?s has adopted safety measures aimed at minimizing physical contact between customers and employees. The retailer has recently reinforced click & collect and click & car services to attract shoppers.

Reasons to Buy

- Use our revised 2020 forecast for El Corte Ingle?s SA to understand how it will perform this year.
- Use our charts to review how El Corte Ingle?s SA's sales are split by region globally and how these regions have been impacted by COVID-19.
- Use our in-depth analysis to review how El Corte Ingle?s SA has responded to COVID-19 and how this will affect its performance.
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El Corte Ingle?s SA - Coronavirus (COVID-19) Company Impact
Published By :GlobalData
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