[REVISION HISTORY]

El Corte Inglés consolidates travel subsidiary

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-07-28 19:35 UTC → 2026-07-29 16:08 UTC · added ~~removed~~

El Corte Inglés ~~strategic expansion~~ consolidates travel subsidiary

In late July 2026 ~~El Corte Inglés’~~ shareholders approved the board’s proposals, reaffirming Javier Catena as chief executive and endorsing a new strategic plan to be presented in September. The plan calls for ~~a more~~ an ambitious investment programme focused on business growth, logistics upgrades and ~~new technologies such as artificial intelligence,~~ artificial‑intelligence technologies, while stressing the continued importance of physical stores as a differentiating asset. The company ~~also~~ announced a historic €250 million dividend, reflecting profit expectations of around €800 million on revenues projected above €15 billion. At the same meeting, the travel subsidiary Viajes El Corte Inglés was highlighted as a growth pillar, reporting €3.489 billion in revenue and a record €107 million EBITDA. ~~Together,~~ Subsequently, El Corte Inglés recorded a €220 million provision to purchase the ~~decisions signal strong shareholder support~~ remaining 25 % of VECI Travel Group from minority partner Tool Factory, aiming for ~~an expanded investment agenda,~~ full (100 %) ownership. The pending transaction, tied to a €24 million loan granted in 2022, would raise the ~~acceleration of online channels~~ travel arm’s stake from 75 % to 100 % and ~~the bolstering~~ aligns with its contribution of €37 million net profit, about 6 % of group earnings. This move underscores the retailer’s focus on consolidating its travel ~~division~~ business as part of ~~El Corte Inglés’~~ the broader ~~push to compete with e‑commerce and fast‑fashion rivals.~~ expansion strategy.

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