Ambitions in the DIY business

Spain’s leading department store group, El Corte Inglés, wants to move into the booming Spanish DIY business, according to its president Isidro Alvarez. The company’s aim is to generate higher growth rates once agin. In fiscal 004 the group’s sales increased by 7.1 per cent to € 15 bn, with profits rising by 6.1 per cent to € 611 mio. El Corte Inglés also plans to start selling furniture. In addition, the company’s expansion abroad in Portugal is to be intensified and the group has its sights set on Italy too.