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

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    Company Profile

  • June 2020
  • GlobalData
  • ID: 5136738
1h Free Analyst Time
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El Corte Inglés SA - Coronavirus (COVID-19) Company Impact

Summary

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

El Corte Inglés 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 Inglés SA’s operations are mainly centred in Spain, its home market. Consumer sentiment in Spain has significantly fallen and the publisher predicts that more normal levels of retail spending, especially on discretionary product categories will not return before Q4 2020 at the earliest.
  • El Corte Inglés 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 Inglés SA to understand how it will perform this year.
  • Use our charts to review how El Corte Inglés 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 Inglés SA has responded to COVID-19 and how this will affect its performance.

Table of Contents

  • Executive Summary
  • El Corte Inglés SA's exposure to COVID-19
  • El Corte Inglés SA's operational responses to COVID-19
  • Key findings
  • Key conclusions
  • Geographic spread analysis - COVID 19 vs El Corte Inglés SA Sales
  • Global & regional impact
  • COVID-19 global impact score for El Corte Inglés SA versus competitors
  • Revised 2020 revenue forecast
  • El Corte Inglés SA exposure: brand sales by region vs regional impact levels
  • Company reaction
  • Employee Layoffs
  • Safety Measures
  • Appendix
  • Methodology

List of Figures
  • Spread of COVID-19- confirmed cases, number in treatment, recoveries and deaths.
  • Countries/ regions affected by COVID-19
  • Spread of El Corte Inglés SA group sales and stores in 2019
  • COVID-19 global impact score for El Corte Inglés SA versus competitors
  • El Corte Inglés SA global revenue and year on year growth 2015-2020
  • El Corte Inglés SA exposure: brand sales by region vs regional impact levels

Companies Mentioned

A selection of companies mentioned in this report includes:

  • El Corte Inglés SA
  • Aldi Group
  • Amazon.com, Inc.
  • Wal-Mart Stores Inc
  • Carrefour SA
  • Mercadona SA
  • Marks & Spencer Plc
  • Dunnes Stores
  • The TJX Companies