Operating Report - El Corte Inglés

Transcription

Operating
Report
2014
Operating Report
2014
1
Contents
Financial highlights
of the consolidated Group 5
Board of Directors
7
Chairman’s Report 8
Operating report of El Corte Inglés
and its business group
12
Economic information 13
Corporate social responsibility 47
Economic analysis 14
14
15
16
17
17
Commercial dimension
50
50
50
53
58
64
18
18
27
30
32
34
36
38
Environmental dimension
Revenue Consolidated profit Investments
Other salient information
Entry of a new shareholder
Review by business line Department stores: El Corte Inglés Hypermarkets: Hipercor
Convenience stores: Supercor
Sfera DIY: Bricor Óptica 2000
Viajes El Corte Inglés Group
El Corte Inglés IT Group:
Informática El Corte Inglés,
Investrónica and Telecor
Insurance Group: Centro de Seguros
y Servicios and Seguros El Corte Inglés
2
Economic information
40
Our business model Our customers Our products and services Our suppliers Logistics 65
Materials 65
Energy 66
Water 67
Emissions 68
Waste 68
Environmental initiatives69
Social dimension
Our team The community and the surroundings Ramón Areces Foundation
70
70
77
83
44
3
Financial Highlights
of the Consolidated Group
2014
2013 (*)
486.86
486.86
8,942.76
8,893.96
14,592.03
14,221.16
Gross profit from operations (EBITDA)
826.39
721.41
Profit from operations (EBIT)
295.71
186.18
Consolidated net profit
118.08
174.35
Cash flow
634.69
717.28
Investments
448.01
404.14
3,785.30
3,351.28
Share capital
Shareholders’ equity
Revenue
Contribution to national income
Amounts in millions of euros.
(*): Data relating to 2013 was prepared in accordance with updates to the International Financial Reporting Standards (IFRSs) for the purpose of uniform comparison
with 2014 data.
Contribution to National Income 2014
amounts in millions of euros
Shareholders
20.13
Company
313.40
State,
Autonomous
Communities
and Local Councils
1,242.07
Employees
2,209.70
4
Financial Highlights of the Consolidated Group 5
Board of Directors
Chairman
Directors
Isidoro Álvarez Álvarez*
Marta Álvarez Guil
Dimas Gimeno Álvarez
Leopoldo del Nogal Ropero
Juan Hermoso Armada
Florencio Lasaga Munárriz
Carlos Martínez Echavarría
Manuel Pizarro Moreno
Paloma García Peña for
Cartera Mancor, S.L.
Carlota Areces Galán for
Corporación Ceslar, S.L.
Secretary
Antonio Hernández-Gil ÁlvarezCienfuegos
* Deceased on 14 September 2014.
6
Board of Directors 7
Chairman’s Report
Dear shareholders:
On behalf of the Board of Directors of El Corte Inglés,
I welcome you to this General Meeting. It is our task
here today to present and analyse last year’s results,
which spanned the period from 1 March 2014 to 28
February 2015.
One event in particular marked the internal affairs of
our Company over that period: a few days after the last
General Meeting, on 14 September 2014, the man who
had been our Chairman for 25 years, Isidoro Álvarez,
passed away. Accordingly, allow me to dedicate my first
words to remember and pay tribute to his character
and his commitment to carrying out his work with
dedication, intelligence and efficiency.
I feel I reflect the overriding sentiment here at this
General Meeting in doing so, because El Corte Inglés
as we know it would not have been possible without
those qualities which the US National Retail Federation
recognised when awarding him the International
Retailer of the Year Award in 2005, for being: “a person
who has earned a reputation for his creative genius,
inspired leadership and distinguished service to the
retail industry”.
Isidoro Álvarez lived for El Corte Inglés and the
Company experienced a long period of growth under
his control. Since beginning his career at our Company
at the age of 18, his life was an example of hard work,
commitment and tireless dedication. His mandate
was a period of expansion, employment and the
consolidation of a large corporate group.
If Ramon Areces led El Corte Inglés from zero to
the heights of success, Isidoro Álvarez was the great
promoter, developer and moderniser of the Company,
who made it the largest in Europe and third-largest in
the world in terms of billings in our line of business.
He was the man behind the diversification of the
Company, who initiated international expansion
in Portugal and was always open to innovation and
change, making the Company a permanent benchmark
for quality business.
8
He summed up his sales philosophy when receiving
honorary membership of the College of Economists
of Madrid: “we have tried to run a quality business
differentiated by its complete range of services,
personal care, customer convenience, ease of
purchase, advice when choosing products, continuous
innovation, guarantees and, as a stand-out quality,
excellence in service”.
And I must not forget what is perhaps a lesser-known,
but important, aspect of his personality: his sponsoring
of hundreds of social, cultural and sporting activities
through El Corte Inglés. Also, as Chairman of the
Ramón Arceres Foundation, he promoted scientific
and technical investigation, contributed to spreading
the Company culture, transformed the Foundation
into a forum of knowledge and concerned himself
with creating human capital through the provision
of grants to aid study at the world’s finest universities
and research centres. Many of the interns from those
programmes now hold positions of great responsibility
at Spanish institutions and businesses.
The legacy of Isidoro Álvarez is, therefore, a farreaching one. Taking on that legacy, managing it
efficiently and helping it to grow is the fundamental
task of the new management of El Corte Inglés.
From this perspective, I would like to underline the
most important events of the first financial year
for which I was responsible as Chairman since 16
September 2014.
The first piece of information I should communicate to
you is that we overturned the drop in sales which had
become systematic since 2008. For the first time since
then, the Group’s sales increased by 2.6%, reflecting a
notable change in trend. This increase was greater than
the average for the Spanish retail industry. The upward
tendency has been clear to see and we expect that the
improved economic environment in general will help
us to maintain this positive trend.
The Group’s EBITDA increased by 14.6% to EUR
826 million. Growth in sales, savings on costs and
maintaining margins during a difficult period enabled
the Group’s profit from operations to grow by 59% to
EUR 295.7 million.
However, this significant operational improvement
did not offset the extraordinary revenues of 2013 and
the increase in finance costs, which are currently
experiencing a process of rapid reduction. This
resulted in a 33% decrease in final net profit, to EUR
115 million.
The reduction in borrowings and borrowing costs
became one of our most important objectives.
In the operational area, it was a year of great
dynamism, which included various matters I would
like to highlight and which mark the guidelines to be
followed:
I am pleased to inform you that the El Corte Inglés
website received over seven million unique visitors
every month, with sustained growth and a growth
rate above the market average, both in terms of
traffic and sales. This is very significant for the digital
transformation process, as I will go on to explain.
El Corte Inglés is also consolidating its position as a
benchmark for shopping tourism. We have continued
to promote our brand, which we began doing in
2012 in fifty countries, and entered into more than
200 agreements with travel agencies. The results are
very positive, with growth in tax free sales and the
average receipt, especially in the Paseo de la Castellana
store. Tourism is both a current and future strategic
opportunity for the business.
We have boosted customer financing activity with
the launch of innovative campaigns that have been
successful due to their positive reception by our
customers.
With regard to the purchasing policy, we followed
two complementary lines: strengthening short- and
medium-distance markets, thereby allowing repeat
sales of products in the shortest time possible;
and strengthening the purchasing plan in the
most profitable markets. The automatic systems
for determining the depth of each stock item were
improved and joint procurement programmes were
boosted.
We continued to renew products, especially
Group brands across almost all categories, thereby
reinforcing the exclusive image of those brands and
the profitability of the Company. At the same time, we
have continued to increase and update the portfolio
of foreign brands, thus improving our position as
specialists. We have also continued with the price
repositioning strategy in order to further adapt to the
demands of our customers.
In terms of Human Resources management, there
were three developments: the agreement to modify the
incentives system for our sales staff, which can increase
the productivity and profitability of our business lines;
the system for rationalising the shifts of managers at
the stores in order to reconcile work and family life;
and the introduction of variable remuneration, linked
to objective criteria of productivity.
I believe, ladies and gentlemen, that this brief
summary of the events and activities in 2014 reflect
the profile of a dynamic company in constant
development, readily aware of the changes in the
market, technological innovations and the needs of
its customers. My assessment of the initiative of our
teams, the potential for development of our Group
and the confidence that investors, suppliers and
customers have in us is highly positive.
However, we are at the beginning of a long and
difficult journey. We suffered the effects of the
recession to a sever degree. We began with all-time
lows in terms of sales and profitability. Our task is to
regain the former levels of profitability and profits
from prior years in a market that grows increasingly
complex by the day, and to make advances in our
objective of international expansion.
Our business plan is based on achieving these
objectives, with a strategic agenda for the coming years
intended to make El Corte Inglés a great omni-channel
retailer, with an offering and selection of excellent
products and exemplary customer service.
10
We can now confirm a reduction in borrowings and
a 30% decrease in borrowing costs, thanks to general
economic improvement and the positive results of
the Group, which are giving rise to more favourable
conditions. Also, the bond issues at the beginning
of 2015, totalling EUR 600 million, represented a
significant milestone in the history of the Company, as
they enabled El Corte Inglés to enter into the capital
market and made it possible to obtain the benefits
arising from the diversification of funding.
Another significant event for our Company was the
inclusion of a new shareholder. This inclusion, with
an investment of EUR 1,000 million, represents a show
of confidence in our Company and the beginning of
an alliance with an expert global investor that will
contribute to the strategic development of El Corte
Inglés. The transaction enables the mobilisation of
the Company’s treasury shares and an increase in
its equity, which significantly improves its financial
structure.
paid more than 600 million visits to our stores last
year. For these customers, and in order to improve
their purchase satisfaction and experience, we will
implement an ambitious personalisation programme
aimed at further adapting and improving our offering
and services to their needs and strengthening the
bonds of their loyalty.
And we also propose to continue with what I previously
defined as the Company’s “digital transformation
process”. This is the new business revolution. The
internet has not only become the sales channel with
the greatest growth and potential for the future, but
this channel also serves as a source of information and
guidance that influences a large proportion of in-store
purchases.
Our ambition is very clear: to have the best internet
sales catalogue of any department store in the world,
because digital space has become a fundamental
component of distribution.
We are also laying down the bases for improved
corporate governance at the Company and it is in this
context that we propose a reform of the Company
bylaws to the General Meeting.
We want our current and future customers to carry
El Corte Inglés with them in their pocket, to have it at
home on their computer or television and access our
products as if they were physically in our stores.
We continue to work on an ambitious Savings Plan
which will enable us to expedite the increase in
profitability until reaching pre-crisis levels.
All this requires huge organisational effort and a new
mentality. We are in a privileged position compared
to other operators. We have one of the largest online
purchase collection networks in Spain. We are
making progress in delivery processes. We guarantee
the quality of service which characterises us and we
strengthen the synergies between the internet and
our stores.
We will continue with the change initiated in purchase
management, in order to increase our margins, paying
special attention to the producer countries that offer
the best opportunities, either due to their proximity or
their quality-price ratio, for the purposes of reducing
costs and the horizontality of goods, especially in terms
of short-term replenishment.
We are tackling a new staff policy aimed at planning
and forming an inventory of the staff skills, improving
training, promoting talent, extending the variable
remuneration system for managers to all areas of the
company and simplifying the salary scale.
And the customers are the central focus of this
programme of measures: the same customers who
I would like to thank every one of you for your
cooperation. I would also like to acknowledge the
encouragement that comes from being at the head
of the team that has been able to build the Company
and help it grow, as one of the most solid and dynamic
companies in Spain.
I can summarise the challenge for all of us by saying
that we will increase the value of our business. It is
the value of prestige which has been built over three
quarters of a century. It is the value of the loyalty of
our customers. It is the value of the millions of users
registered on our website. It is the value of thousands of
suppliers around the world, committed to the demands
of quality that set us apart from our competitors. And it
is the value of every single Group employee.
Based on our values and the gradual recovery of
confidence from our customers, I am sure that years of
prosperity lie ahead of us.
Lastly, I request your approval of the Management of
the Board and the financial statements for 2014. And,
in your dual capacity as shareholders and employees of
El Corte Inglés, I call on you to tackle the challenges
of new times ahead.
Many thanks,
Ladies and gentlemen:
Dimas Gimeno Álvarez
That was the concise report on twelve intense months
in the life of El Corte Inglés and the announcement of
the path we are going to follow in order to overcome
the effects of the crisis.
Allow me the liberty of noting that this is the first
General Meeting over which I have had the honour to
preside and the first set of financial statements I have
the honour to present.
Operating report
of El Corte Inglés
12
13
Corporate social responsibility
47
Review by business line
18
13
Economic
analysis
Revenue in 2014
14,592.03
Millions of euros
The details of the revenue and consolidated profit
obtained by the El Corte Inglés Group based on the
contribution of each of the main lines of business and
the investments made in 2014 are as follows:
Revenue
Format
Consolidated profit
% Contribution
2014
2013 (*)
% Change 14/13
Department stores: El Corte Inglés
60.1
8,768.19
8,463.86
3.6
Hypermarkets: Hipercor
10.8
1,570.53
1,716.30
(8.5)
4.1
591.04
615.72
(4.0)
Sfera
1.4
205.14
164.06
25.0
Format
DIY: Bricor
0.6
90.72
79.57
14.0
Department stores: El Corte Inglés
Óptica 2000
0.5
78.33
75.38
3.9
Hypermarkets: Hipercor
16.1
2,350.12
2,248.98
4.5
El Corte Inglés IT Group
5.1
737.10
660.34
11.6
Insurance Group
1.2
182.02
176.35
3.2
Other lines of business
0.1
18.84
20.60
(8.5)
100.0
14,592.03
14,221.16
2.6
TOTAL
The detail of the consolidated profit of the Group
companies and their respective lines of business is as
follows.
% Contribution
2014
2013 (*)
% Change 14/13
55.5
186.29
274.85
(32.2)
1.6
5.28
7.28
(27.5)
(2.2)
(7.31)
(16.63)
56.0
7.3
24.35
22.14
10.0
(3.0)
(10.10)
(11.94)
15.4
1.6
5.53
4.77
15.9
11.1
37.42
34.73
7.7
7.2
24.18
20.48
18.1
13.2
44.42
40.26
10.3
Financiera El Corte Inglés
8.1
24.97
32.86
(**)
Other lines of business
0.2
0.64
(4.06)
>100
(217.59)
(230.39)
5.6
118.08
174.35
(32.3)
(2.81)
(1.99)
(41.2)
115.27
172.36
(33.1)
Sfera
DIY: Bricor
Óptica 2000
El Corte Inglés IT Group
(*): Data prepared in accordance with updates to the International Financial Reporting Standards (IFRSs).
Insurance Group
Consolidated revenue for 2014 (year ended 28 February
2015) amounted to EUR 14,592.03 million, up 2.6%
on 2013. The improvement in the general economic
situation and some recovery in consumption, as well as
the Group’s attractive commercial offering and efforts
made to improve customer satisfaction have had a
positive influence on sales.
The Group’s consolidated revenue over the last four
years has been as follows:
Adjustments and eliminations on consolidation
Revenue
(*)
Consolidated profit
millions of euros
Profit attributable to non-controlling interests
15,698
14,473
14,592
14,221
PROFIT FOR THE YEAR ATTRIBUTABLE
TO THE PARENT
The three lines with the most revenue are the
department stores, travel agency and hypermarkets,
which account for 87% of total revenue. Department
stores remain the Group’s core commercial format,
with revenue amounting to EUR 8,768.19 million.
(*): Data prepared in accordance with updates to the International Financial Reporting Standards (IFRSs).
(**): Non uniform data because El Corte Inglés’s ownership interest in Financiera ECI fell from 100% in 2013 to 49% in 2014.




(*): Data prepared in accordance with updates to the International Financial Reporting
Standards (IFRSs).
14
Investments in 2014:
448.01
Millions of euros
The Group’s consolidated profit for 2014 (year ended
28 February 2015) stood at EUR 118.08 million, down
32.3% with respect to 2013. This trend arose mainly
as a result of the comparison with the previous year
on inclusion of the gains arising from the sale of 51%
of Financiera El Corte Inglés and the effects of the
financial restructuring carried out in 2013.
However, both profit from operations (EBIT) and gross
profit from operations (EBITDA) performed positively,
reflecting the sound performance of the El Corte Inglés
Group’s business. In this regard, it is important to note
that EBIT stood at EUR 295.7 million, up 59% on 2013,
and EBITDA stood at EUR 826.39 million, up 14.6%
on 2013.
The Board of Directors of El Corte Inglés, S.A., as the
Parent, will propose to the shareholders at the Annual
General Meeting payment of a dividend of EUR 25
million to be distributed proportionally to each existing
share entitled to receive it.
The provisional calculation of the proposed dividend
payment is as follows:
Thousands of euros
Dividend payable
25,000
Voluntary reserves
142,824
PROFIT OF
EL CORTE INGLÉS, S.A.
167,824
Following this distribution of profit of El Corte Inglés,
S.A., the consolidated Group’s shareholders’ equity is
as follows:
Thousands of euros
Share capital
486,864
Reserves and other
8,430,892
TOTAL
8,917,756
16
Investments
In 2014 the consolidated Group invested a total of EUR
448.01 million, the detail being as follows:
Millions of euros
Property, plant and equipment
Intangible assets
Non-current financial assets
358.35
83.71
5.95
The investments in property, plant and equipment
were as follows:
Also, Bricor kept to its openings schedule and opened
21 shops in El Corte Inglés centres. Accordingly, at year
end the chain had 41 urban shops which provide a
rapid response to customers looking for DIY solutions.
On the other hand, in 2014 the El Corte Inglés Group
was awarded the land owned by Adif located in Paseo
de la Castellana in Madrid, the commercial and
financial heart of the capital. This is a unique location
with an excellent communications and infrastructure
network beside the El Corte Inglés Castellana shopping
centre. This acquisition will allow the company to
consolidate its presence in the Azca complex, one of
the most commercial and best located areas in Madrid.
Millions of euros
Land and buildings
17.16
Machinery, fixtures, tools and
others
15.08
Furniture
11.27
Computer hardware
Property, plant and equipment
in the course of construction
7.60
307.24
Most of these investments relate to renovation and
refurbishment work carried out at various shopping
centres for the purpose of maintaining the levels of
quality and service for which the Group is renowned.
Among the works carried out in 2014, of particular
note was the refurbishment of the El Corte Inglés
department stores in León and in Mijas (Málaga) and
Palma de Mallorca. Renovation works were also carried
out at the Méndez Álvaro and Xanadú Hipercors
(Madrid).
Other salient information
It is also worth noting that in 2014 the El Corte Inglés
Group successfully completed its first two issues of
senior bonds totalling EUR 600 million. This issue,
which does not provide any kind of guarantee,
evidenced the company’s credibility for investors. The
success of the first EUR 500 million placement aimed
at qualified investors, coupled with favourable market
conditions, resulted in a second, complementary EUR
100 million issue which was launched one week after
the first one.
Entry of a new shareholder
Since the end of the reporting period, in July 2015, a
new shareholder has invested EUR 1,000 million in
the El Corte Inglés Group and will hold a 10% noncontrolling interest in the share capital.
The investment was made through an instrument
which is convertible into shares in three years. These
shares form part of the company’s treasury shares.
With this agreement, the investor, one of the world’s
leading investors, has taken up a stake in the El
Corte Inglés Group with the aim of maintaining its
investment over time and supporting the Group’s
strategic development.
Under the agreement the new shareholder will have a
seat on the Board of Directors of El Corte Inglés.
The aim of these issues was to diversify the Group’s
financing sources.
Improvement works were also carried out at El Corte
Inglés centres in Plaza de Cataluña (Barcelona),
Sabadell, Vitoria, Pintor Sorolla (Valencia), Marbella
and La Coruña.
Review
by business line
Department stores:
El Corte Inglés
Revenue in 2014
8,768.19
Millions of euros
Following is a review of the business performance in
2014 of each of the Group’s business lines and sales
formats.
The department store format is the Group’s main
activity, contributing 60% of revenue, totalling EUR
8,768.2 million, up 3.6% on 2013. Profit amounted to
EUR 186.3 million, down 32.2% on the previous year.
This trend arose mainly as a result of the comparison
with the previous year on inclusion of the gains
arising from the sale of 51% of Financiera El Corte
Inglés and the effects of the financial restructuring
carried out in 2013.
El Corte Inglés endeavours to constantly update and
improve its commercial offering with innovative new
products and services that are tailored to the latest
market requirements. We introduce new products
and services in all our areas of activity, ranging from
exclusive fashion brands, to new decoration ideas,
state-of-the art technology and sports equipment,
cutting-edge proposals for food and catering, etc. This,
coupled with a commitment to quality and guarantees,
enables us to satisfy customers with different tastes,
interests and economic possibilities.
In this regard, one of the most innovative initiatives
carried out by El Corte Inglés last year was its launch
of Christmas credit lines, through Financiera El Corte
Inglés, enabling customers to buy their presents
before the Christmas holiday and to defer the related
payments according to their needs. Customers may
apply for these credits, the standard amounts of which
range from EUR 100 to EUR 1,200, at El Corte Inglés
and Hipercor establishments and may also use them
for online purchases for these two stores, as well as at
Supercor supermarkets, thus encouraging Christmas
purchases in areas such as food, household goods,
fashion, accessories, toys, sport, leisure and culture.
This pioneering initiative gave customers the option
to choose among various deferred payment methods,
depending on whether the user held an El Corte Inglés
charge card. In all cases, customers may defer payment
of the credit until 28 February 2015 at the earliest.
SpringSummer14
X A B I A L O N S O PA R A E M I D I O T U C C I
collection
Another innovative service launched in 2014 was
Click&Collect, whereby customers can make their
purchases online and collect the related items (fashion,
accessories, footwear, computers, toys, culture, leisure,
etc.) at El Corte Inglés and Supercor centres, which
number 200 nationwide. This initiative, which comes
in addition to the Click&Car service for supermarket
shopping, forms part of the Group’s customer service
policy and reinforces the connection between the
physical and online worlds.
In this connection, El Corte Inglés also developed an
application for mobile phones and tablets to make
supermarket shopping easier and more convenient.
This tool, which is available for devices using both the
IOS operating system (Apple devices) and Android
(other devices), simulates the supermarket aisles,
enabling users to browse all the establishment’s
shelves, thus providing an intuitive and easy-to-use
shopping experience. The new application offers a
wide range of possibilities to personalise purchases.
Each product includes all the information customers
need to compare features and prices and to learn about
offers and discounts.
El Corte Inglés endeavours
to constantly update and improve its
commercial offering with innovative
new products and services that
are tailored to the latest market
requirements.
SOLO EN
18
Review by business line 19
This positioning in relation to the online environment
was also reflected in the popularity of several initiatives
such as Fever Monday, which is similar to Cyber
Monday in the US, which provides a wide range
of offers and discounts in Internet purchases on a
particular day before Christmas. One consultancy firm
concluded that the El Corte Inglés website was the best
in terms of responding to its customers on the busiest
online shopping day.
El Corte Inglés also celebrated, for the second
consecutive year, Black Friday, an event with a
strong tradition in the United States that has spread
internationally and features very attractive prices
in virtually all products in fashion, sport, electronic
goods, domestic appliances, household items,
books, etc. On this occasion, a special promotion
was included whereby 25% of the amount of the
purchases made in fashion goods could be spent in
the following days.
The most significant labels
that have been included in recent
months include, notably, the US
brand Gap.
In the area of fashion, it is important to note the
inclusion of new labels underpinning El Corte Inglés’s
strategy to position itself at the forefront of the
latest trends, and the continuous inclusion of new
collections, which represents a constant renewal of its
commercial offering.
The most significant labels that have been included
in recent months include, notably, the US brand Gap,
which opened its first establishment in El Corte Inglés’s
Rambla store in Barcelona. Through this alliance, the
two groups launched a new project which envisages
opening new establishments in order to market the
US group’s most distinctive collections in the Spanish
market.
In order to increase the fashion offering for plus size
women, the company sponsored a fashion show
called Curvies by El Corte Inglés which was held
during the MFShow (Madrid Fashion Show), which
takes place in February. The designs on show were
by Couchel (the own brand for large sizes), Adolfo
Domínguez+ and Elena Miró, thus proving that
women can dress fashionably, with the latest designs,
regardless of their size.
The male fashion show, MFShow Men, has also
became more firmly established. This year it opened
with a display by Emidio Tucci that included the latest
trends and collections.
In addition, a project was carried out in cooperation
with the UK embassy in order to raise awareness of the
best in this country’s fashion, gastronomy and culture.
Over a three-week period, various El Corte Inglés
centres displayed a wide range of UK designer fashion
labels and collections. Labels such as Jigsaw, Victoria
Beckham and Vivienne Westwood were added to those
already normally marketed by El Corte Inglés.
In the decoration area, work was carried out on various
significant projects that culminated in the launch of
new own brands and very innovative collections. To
this end, Mini Home was launched. This is a new line
in decoration for children aged 2 to12 that includes all
kinds of furniture, bed, bath and table linen, cutlery
sets, tableware, study articles, etc. with highly attractive
designs and trend-setting collections.
COLORS
Pantone 158 C
PANTONE®
Pantone 430 C
PANTONE®
Pantone 2069 C
PANTONE®
Pantone 2191 C
PANTONE®
Pantone 2300 C
PANTONE®
Pantone 7548 C
PANTONE®
NUEVO
TA
N
6ª y 7ª PLA
SERRANO 52
recto
Acceso di
ristalado
censor ac
desde as
Descubra un nuevo Gourmet Experience
7 Estrellas
de Jordi Roca.
de David Muñoz.
3 estrellas Michelín
3 estrellas Michelín
con El Celler de Can Roca
con DiverXo
de Roberto Ruiz.
1 estrella Michelín con Punto MX
Alta cocina abstracta
y arriesgada
Cocina mejicana atrevida
y creativa
Helados conceptuales
y de vanguardia
Con la mayor y mejor
selección de productos
Gourmet y nuestro NUEVO
ABIERTO 362 DÍAS AL AÑO.
DE LUNES A JUEVES DE 10 A 24 H - DOMINGOS DE 11 A 24 H - VIERNES, SÁBADOS Y VÍSPERAS DE FESTIVOS DE 10 A 02 H
20
A fresh boost for tourism
Work was also carried out in 2014 on two major
decoration projects that were launched between
March and April 2015. One involves the creation of an
“El Corte Inglés” own brand for the decoration area,
comprising 2,500 articles at highly competitive prices
and with innovative, cutting-edge designs. Various
collections were created that may be adapted to the
various target profiles: “young&trendy”, contemporary
and neoclassical, with an offering that ranges from
furniture to textile products, including household
items, accessories and decoration products.
The second project was carried out jointly by the
El Corte Inglés Business Division and the interior
designer Pascua Ortega to create a new state-of-the-art
decoration area called Studio Y (Estudio Y). Launched
in March 2015, this new concept offers decoration
projects that are tailor-made for each customer,
whether private customers, companies or institutions,
and combine designer creations with the experience
acquired by El Corte Inglés in implementing projects.
In the area of gastronomy and catering, work
continued to develop innovative concepts that are well
received by the customers. To this end, in the heart of
Madrid’s Golden Mile (Serrano, 52), the sixth Gourmet
Experience was held in an area measuring 800 square
meters. The event showcased the most select items
available in the gourmet products market and provided
the opportunity to taste, in the store, the best that
the current culinary landscape has to offer. One new
feature of this edition consisted of dishes prepared by
three renowned chefs: David Muñoz, with StreetXO;
Roberto Ruiz, with Cascabel; and Jordi Roca, with
Rocambolesc. Together, the three chefs boast seven
Michelin stars, thus making this event a reference point
in terms of innovation and culinary appeal.
With regard to promotional activities performed in
2014, it is important to note that several initiatives
were carried out that relate to the new marketing
strategies and the new price positioning designed
to help customers through high-quality products at
very competitive prices. Payment facilities have also
been kept freely available, with various financing or
deferred-payment actions so that consumers can
acquire the products or services that they want.
Solicita tu ANTICIPO** DE NAVIDAD por el importe que prefieras.
Y despreocúpate de todos los gastos durante estas fiestas: desde los adornos
hasta tu vestido de Nochevieja, sin olvidar los regalos, juguetes, alimentación,…
todas tus compras* están incluidas. Además, podrás devolver el importe
cómodamente. Y tú solo tendrás que ocuparte de disfrutar de la Navidad.
TARJETA ANTICIPO DE NAVIDAD
100€
300€
600€
900€
1.200€
* No se incluyen dentro de las compras: servicios, seguros, viajes y tarjetas regalo. Consultar detalle de las exclusiones en tienda.
** Línea de crédito para las compras de Navidad. Plazo de contratación: 7/11/2014 al 5/01/2015. Gastos de gestión en función del importe dispuesto y financiados: desde 1€ hasta un
máximo de 12€. Importe mínimo 100€. Forma de pago: único recibo con vencimiento el 28/02/2015. Clientes con Tarjeta de Compra El Corte Inglés, además podrán elegir alguna de
las siguientes fórmulas: en tres meses sin intereses, o en seis meses, los tres primeros sin intereses. Vencimiento primer recibo: 28/02/2015. Recibo mínimo 30€. Periodo sin intereses
subvencionado por El Corte Inglés, S.A. Financiación sujeta a la aprobación de Financiera El Corte Inglés EFC, S.A. Ejemplos: Pago en un único recibo el 28/02/2015. (i) Importe total
de crédito: 302€, TIN 0,00%, TAE 8,30%, gastos de gestión: 2€, importe total adeudado 302€. Pago en 3 meses sin intereses. (i) Importe total de crédito: 304€, TIN 0,00%, TAE
8,28%, 2 cuotas de 101,33€/mes y 1 cuota 101,34€, gastos de gestión: 4€, importe total adeudado 304€. Pago en 6 meses: (i) Importe total de crédito: 304€, TIN MEDIO 5,12%,
TAE 10,12%, 3 primeras cuotas de 50,67€, TIN 0%, las 3 siguientes cuotas de 52,19€, TIN 18%, gastos de gestión: 4€, importe total adeudado 308,58€.
With regard to its advertising activity, El Corte Inglés
again demonstrated its communication capabilities
through several campaigns (Sales, Spring, Autumn,
Christmas, etc.) and through the launch of new, ownlabel collections. Some of these campaigns involved
the participation of well known personalities such as
Dani Rovira and Clara Lago, and models such as Elisa
Sednaoui.
El Corte Inglés continues to focus on boosting
tourism, one of the drivers of the Spanish
economy, through new domestic and international
initiatives. One of the most significant initiatives
in this area in 2014 was the launch of a major
international campaign called For Shopping
Lovers, which is being carried out in various
countries and aims to promote Spain and El Corte
Inglés as a shopping destination.
This initiative also involves a series of cooperation
projects with prestigious multinational companies
in order to boost the country’s image as a
destination for shopping, gastronomy and culture.
The first of these initiatives was carried with Four
Seasons in Russia in order to promote quality
tourism.
In order to encourage the influx of foreign visitors,
El Corte Inglés also takes part in a large number
of international tourism fairs such as the Travel
Week in Sao Paulo, ILTM Asia in Shanghai, ILTM
Américas in Mexico, GIBTM in Abu Dhabi, ATM
in Dubai, MITT and MBFW in Moscow, MATTA in
Malaysia, JATA in Tokyo and CIBTM in Beijing,
among others. It has also entered into agreements
with other operators such as Paradores
Nacionales, institutions such as Ifema, and with
various tour operators, international agencies, etc.
All of the above is in addition to numerous
initiatives carried out at El Corte Inglés centres and
the differentiated service offered to foreign visitors.
In order to achieve this, the entire international
tourism area was reinforced. Furthermore, a
commercial and service offering is provided at our
stores to these new travellers arriving from the
main source countries for shopping tourism. In
the most popular cities for tourists, we have staff
who speak Chinese, Russian, Japanese, Arabic,
etc., we have a tax-free service for refunding VAT
and we manage the delivery of purchased items to
hotels or to the travellers’ home towns.
The Castellana centre in Madrid provides a
free mobile phone application in six languages:
Spanish, English, Chinese, Japanese, Russian
and Portuguese, in order to make shopping
easier for tourists, by enabling them to quickly
locate each area, brand and product available in
the establishment. As a result of its commitment
to tourism, El Corte Inglés’s Castellana centre
was awarded the Quality Tourism Certificate
by the China National Tourism Administration
(CNTA) in recognition of the quality and service
offered by this centre. This certificate creates
an ongoing commitment to improve quality and
customer service. The Castellana centre has
also been awarded the Virtuous seal, whereby
the centre is included in a prestigious worldwide
travel network that recommends the most select
places and the best services in the countries
where this system operates.
F O R
S H O P P I N G
C A S T E L L A N A
S T O R E
EXCLUSIVE COURTESIES:
También para tus compras en
10%
REWARD
+ TAX
REFUND
For non-resident foreign visitors. Check in Store for other restrictions
22
LOV E R S
M A D R I D
DEPARTMENT STORES
SPAIN & PORTUGAL
E-commerce
Performance of credit sales
The objectives of El Corte Inglés include a firm
positioning in e-commerce, a channel in which
it is both a pioneer and a benchmark, with
over 227 million visits in the year to its website,
up 46.7% on 2013. The number of registered
users also increased in 2014 by 12% to 4.7
million.
In 2014 credit sales performed in line with the
trend in consumption and the activity of the
Group companies.
Financiera El Corte Inglés, the company
co-managed by El Corte Inglés and Banco
Santander, is responsible for providing financing
to customers through the Personal Payment
Formula (Fórmula Personal de Pago) such as the
El Corte Inglés charge cards, of which there were
10.7 million units at 31 December 2014.
The digital environment was also strengthened
by numerous communication and promotion
campaigns carried out through platforms such
as Facebook, where El Corte Inglés now has
1.6 followers (9% more than in 2013), Twitter,
where it has 152,000 fans (up 49%), Instagram,
with 22,000 followers, Google+, Pinterest and
YouTube.
Total financing granted to customers in 2014
through the Group’s own charge card amounted
to EUR 6,639 million, up 0.4% on 2013.
Goods and services acquired by customers
through the use of the card issued by the
company amounted to EUR 4,806.6 million, which
is a similar amount to that of the previous year.
Financing granted to customers in 2014 through
the Personal Payment Formula amounted to EUR
1,442 million, which represents a 6% increase
with respect to 2013.
24
Hypermarkets:
El Corte Inglés department stores: 89 (*):
Hipercor
Hipercor hypermarkets: 43 (*):
87 IN SPAIN
Andalusia
Castilla y León
Balearic Islands
Andalusia
Castilla y León
Madrid
Algeciras, Cádiz,
Córdoba (2), El
Ejido, Granada (2),
Jaén, Jerez de la
Frontera, Linares,
Málaga (2), Marbella
(2), Mijas, San
Fernando, San Juan
de Aznalfarache and
Seville (3)
Burgos, León,
Salamanca and
Valladolid (2)
Palma de Mallorca (2)
Algeciras, Cádiz,
Córdoba, El
Ejido, Granada,
Huelva, Jerez
de la Frontera,
Málaga, Marbella,
Mijas, San Juan de
Aznalfarache and
Seville (2)
Burgos and
Valladolid
Alcalá de Henares,
Alcorcón,
Arroyomolinos,
Getafe, Leganés,
Madrid (4) and
Pozuelo de Alarcón
Aragón
Elche and Valencia
Zaragoza (2)
Extremadura
Murcia
Autonomous
Community
Asturias
Badajoz
Murcia
Galicia
Aragón
Zaragoza (3)
Asturias
Avilés, Gijón and
Oviedo (2)
Cantabria
Santander
CastillaLa Mancha
Albacete,
Guadalajara
and Talavera de
la Reina
Canary Islands
Catalonia
Barcelona (5),
Cornellà, Sabadell
and Tarragona
Valencia
Autonomous
Community
Alicante, Castellón
de la Plana, Elche
and Valencia (4)
Las Palmas de
Gran Canaria (2)
and Santa Cruz de
Tenerife
Madrid
Alcorcón, Getafe,
Leganés (2),
Madrid (13) and
Pozuelo de Alarcón
Navarre
Extremadura
Pamplona
Avilés, Gijón
and Oviedo
Badajoz
Basque Country
Cantabria
Galicia
Bilbao (2), Eibar
and Vitoria
Santander
A Coruña (2),
Santiago
de Compostela
and Vigo
Barcelona, Cornellà
and Girona
Valencia
Autonomous
Community
A Coruña
and Santiago de
Compostela
Canary Islands
CastillaLa Mancha
Murcia
Autonomous
Community
Catalonia
Las Palmas de
Gran Canaria
Guadalajara
Cartagena
and Murcia (2)
2 IN PORTUGAL: Lisboa and Vila Nova de Gaia - Porto
(*) Data at 28 February 2015.
4|3
1|1
Navarre
Online sales
The Hipercor hypermarket chain obtained revenue of
EUR 1,570.53 million and profit of EUR 5.28 million.
These figures were affected by the reorganisation of
formats, sectors and sections carried out in recent
years, which limited the chain’s surface area.
In 2014 the range of products marketed on the
website www.hipercor.es was increased with
the addition of electronic goods, variety goods,
furniture and textile products, as well as food. This
contributed to a 17.7% increase in the number of
registered users to 176,000.
In food and consumer goods, a major effort was
made in the area of fresh products where, as well as
preserving high quality, Hipercor added differentiated
products and maintained a highly competitive pricing
policy.
A new, more convenient and intuitive application
was also launched in order to make it easier to
shop using any mobile device, and promotion and
marketing actions were carried out on the social
networks.
Pamplona
In fact, in 2014 the commitment to permanently review
the prices of basic shopping basket items was extended
to 8,000 products. This strategy, which was launched in
the previous year, enables Hipercor to offer maximum
competitiveness on an ongoing, systematic basis, while
maintaining the same levels of quality and service
that characterise the company. As a result, Hipercor
responds to its commitment to support families by
contributing to their daily savings plan.
4
4|2
1|1
8|3
5|2
3|2
18 | 10
2
3|1
1|1
7|2
2
Revenue in 2014
1,570.53
Millions of euros
3|1
20 | 13
3|1
26
The ongoing price review of the most popular 6,000
food and 2,000 drugstore and perfumery products
is made possible by the ongoing improvement to
internal management and by an optimisation of
resources. The price list is checked regularly in all fresh
product categories (fruit and vegetables, fish, seafood,
delicatessen products and meat) and in the area of
groceries and drugstore and perfumery products. This
is, therefore, a strategic, stable initiative, designed
to last over time and capable of responding to the
consumers’ needs.
In 2014 the commitment to
permanently review the prices
of basic shopping basket items
was extended to 8,000 products.
This strategy enables to offer
maximum competitiveness on an
ongoing, systematic basis, while
maintaining the same levels of
quality and service.
Also noteworthy was the addition of new operators and
companies specialising in beef, fruit and vegetables,
smoked foods, sushi, sausages, Iberian cured meats,
hamburgers, pizzas, etc. This change, which began the
previous year, is being very well received by customers.
It enables Hipercor to develop differential factors
that set the chain apart and to offer a wider range of
products to its customers.
Also, closer ties are being forged with local producers
in order to increase their presence on the shelves of the
hypermarkets in their catchment areas. This not only
provides a stronger link with the local environment but
also diversifies the offer for the customers.
With regard to the other areas of the hypermarket,
namely textile products and variety and electronic
goods, the same price review and maximum
competitiveness policy was applied.
Also, in the fashion textile area, work was completed
on the new implementation model which includes
a more convenient and attractive presentation for
the customer while also increasing the offer of basic
products.
In variety goods, a project is now under way to
improve the entire area of household items, storage,
relaxation, toys, books, camping, etc. in order to adapt
the commercial offering even more to the consumer’s
needs.
28
Información económica
Convenience stores:
Supercor
Ofertas válidas del 27 de febrero al 12 de marzo de 2014
TO
IE R
•
24H
•
As a result of this conversion process, which affected
the Opencor stores in particular, the commercial
offering was adapted further and food products
became more prominent. Fresh products were given
priority, and meat and delicatessen counters were
introduced at certain Supercor Exprés establishments.
The improvement and identity change plan for
the convenience stores located in Repsol service
stations, which changed their name to Supercor
Stop&Go, was completed in 2014. Progress was
also made in another joint project with Repsol
to roll out the Supercor Stop&Go brand at other
service stations in its own sales network.
AB
In 2014 the operational merger of the companies
that manage the convenience stores, i.e. Supercor
and Tiendas de Conveniencia (Opencor), with the
consequent integration of teams and improvement
in productivity, was completed. As a result of this
process, which began in 2012, most of the Opencor
stores were converted into Supercor Exprés stores. This
restructuring of the sales network, which occurred as
a result of the regulatory changes and the deregulation
of opening hours in several autonomous communities,
gave rise to management improvements and an
optimisation of logistics and sales resources.
Supercor Stop&Go
at service stations
NUEVO SUPERMERCADO
NUEVOS PRECIOS
en
fíjate
ros
nuest
Following this process, the convenience store network
comprised 187 stores at 28 February 2015. Of these,
77 are Supercor supermarkets and 110 are Supercor
Exprés stores.
In addition, the convenience stores network adheres
to the Group’s policy of maximum competitiveness
with a permanent review of prices in fresh products,
groceries and drugstore and perfumery products. This
positioning received an excellent response from the
customers and resulted in a higher number of products
that are analysed on an ongoing basis in order to adjust
prices without losing the quality and service that
characterise the company.
Leche entera,
semidesnatada
o desnatada
EL CORTE INGLÉS,
1 L.
0,74€
Revenue at 2014 year-end amounted to EUR 591.04
million, down 4% on the previous year, and the loss
declined to EUR 7.3 million.
Convenience stores:
The Supercor supermarkets format is the larger of
the two, with employees serving a very wide range of
perishable products behind the counter and a selfservice area.
ESTACIONES DE SERVICIO REPSOL-SUPERCOR
MADRID: Mateo Inurria, c/ Mateo Inurria 4 con c/ General López Pozas - 28036; Las Tablas, c/ del Abetal 8 (Avda. Santo Domingo de la
Calzada) - 28050; PAU Vallecas, c/ Real Arganda 76 - 28071. ALCORCÓN: Alcorcón, Avda. del Pinar s/n - 28925. MAJADAHONDA:
Majadahonda I, c/ Manuel de Falla con c/ Sarasate - 28220. CASTELLÓN: El Maset, c/ Río Palancia 2 con Avda. de Valencia - 12006.
VALENCIA: Maestro Rodrigo, c/ Maestro Rodrigo con c/ La Safor - 46015.
HOJA VOLANDERA Stop&Go 27-02-14 PG.indd 1
The Supercor Exprés stores focus more on fast and easy
shopping, with a basic offering of food, drugstore and
perfumery products, and longer opening hours that
are adapted to the needs of the local area where the
establishment is located.
187
20/02/14 16:13
Andalusia: 37
Extremadura: 1
Aragon: 3
Galicia: 9
Asturias: 8
Balearic Islands: 2
Cantabria: 1
Canary Islands 11
Castilla-La Mancha: 3
Madrid: 61
Castilla y León: 2
Basque Country: 2
Catalonia: 21
Murcia Autonomous
Community: 3
Revenue in 2014
591.04
Millions of euros
The convenience stores network
adheres to the Group’s policy
of maximum competitiveness with
a permanent review of prices in fresh
products, groceries and drugstore
and perfumery products.
Valencia Autonomous
Community: 23
Data at 28 February 2015.
30
Sfera
In 2014 the fashion and accessory chain Sfera
continued the upward trend of recent years with a
14.9% increase in gross sales to EUR 390 million. Its
contribution to consolidated revenue increased by 25%
on 2013 to EUR 205.14 million. It recorded a profit of
EUR 24.35 million, up 10% on the previous year.
This positive trend was driven by the design of
on-trend, attractive designs at good prices, the
reorganisation of the sales areas by prioritising
products in most demand, and improved management
through a permanent stock control, resulting in a
considerable reduction in surplus stock.
In the year, Sfera continued its firm but prudent storeopening strategy. In Spain, 10 new establishments
were inaugurated in 2014, and the total for Europe,
including Greece and Portugal, was 87. In Mexico, 8
establishments were opened, taking the total in that
country to 28. The chain plans to open a further five
stores in the Mexican market in 2015.
Revenue in 2014
205.14
Millions of euros
With regard to the Latin American market, the chain
took its first steps to enter Chile and Colombia through
a distribution agreement with the Ripley Group. This
alliance involved the opening of three corners in
Colombia and the launch of an expansion plan in Chile
which will continue to take shape in 2015.
Moreover, Sfera is present in Peru, where it has been
operating a franchise agreement with Oechsle, of the
Interbank Group, since 2013. It has two stores in Lima
and corners in seven Oechsle department stores.
Expansion efforts in the coming year will focus on the
development of markets in countries in the Middle
East and Latin America.
Following the inaugurations carried out in 2014, Sfera
had 115 own stores in total at 28 February 2015.
With regard to expansion into new markets, the chain
opted to ally with strong, local groups that specialise
in fashion retail through franchise agreements. In
Saudi Arabia, the first store opened in March 2014 in
Jeddah-Mall of Arabia following an agreement with the
Alhokair Group.
Agreements to open Sfera establishments were also
entered into in locations such as Abu Dhabi and the
Philippines, specifically Manila.
32
Sfera online
The fashion chain’s activities in the social
networks culminated with the launch of a new
online sales platform which will come into
operation in the second half of 2015.
DIY:
Bricor
90.72
Revenue in 2014
Millions of euros
More online product references
In 2014 BriCor recorded revenue amounting to EUR
117.8 million. Its contribution to consolidated revenue
increased by 14% on 2013 to EUR 90.7 million. There
was an improved trend in both the sales and results
of the Group’s chain specialising in DIY, decoration,
gardening and comprehensive home renovation.
This was aided by the general recovery in the DIY
sector, improved internal management at BriCor and
the growth in the chain’s sales network through the
stores located in El Corte Inglés centres. This new
format enables the chain to satisfy the demands of
customers looking for home DIY solutions at very
competitive prices without having to travel out of town.
Accordingly, at 28 February 2015, BriCor had 41 urban
stores and 8 large-format stores, as well as online sales.
In order to grow the brand, new employees were hired
and a wide-ranging training programme was launched
consisting of 36,000 hours of specialist courses. This
training programme will continue throughout 2015
with the objective of maintaining the high level of
requirements and professionalism demanded by an
activity such as that carried out by BriCor.
The boost given by BriCor to its online store,
which had been launched the previous year and
now has 45,000 product references (the same
as those of the physical store), was reflected
in the number of unique visitors and the new
customers who began to buy online. In only one
year, www.bricor.es achieved over 3.3 million
annual visits, 1.7 million new customers and
74 million page views.
Work also continued in 2014 to achieve new synergies
with the El Corte Inglés Group, reduce costs and
improve purchasing conditions. In addition, there was
continuous improvement in the commercial offer in all
our sections.
Own brands are being developed in this context:
Capaz (specialising in tools, barbecues and fireplaces),
Esplenda (for paints, decoration and storage), Usual
(consumables and utility products) and Loverde
Home renovation
(gardening). Also of note is a line of products
competing on in price, encompassing fast-moving
articles such as batteries, light bulbs and locks.
BriCor works closely with its suppliers, over 80% of
which are from Spain and, as a result, it organises
awareness actions jointly with them for customers and
the public in general. In other cases, the chain took
part in industry initiatives involving the major DIY
and decoration companies in order to encourage the
development of DIY in the Spanish market. This is the
case of Your Home Day (El Día de tu Casa) which was
held in May 2014.
Comprehensive home renovation and
refurbishment posted considerable growth
in 2014, thanks to BriCor’s strengthening of
its commercial offering through complete
product plus labour packs (bathtub to shower
conversions, made-to-measure wardrobes,
replacement of windows, floors and doors,
gas boilers, air conditioning installation and
comprehensive kitchen and bathroom renovation),
adapted to each customer’s specific needs,
which offer the usual safety and guarantee of
satisfaction provided by the El Corte Inglés
Group’s renovation specialists.
BriCor, which maintains its environmental
commitment policy, also encouraged awareness
campaigns coinciding with World Water Day and
Forest Day, among others.
Bricor stores:
49
In Spain: 47
Andalusia: 8
Valencia Autonomous
Community: 6
Aragon: 2
Galicia: 4
Asturias: 2
Balearic Islands: 1
Cantabria: 1
Canary Islands 2
Madrid: 8
Castilla y León: 3
Basque Country: 1
Catalonia: 6
Murcia Autonomous
Community: 2
In portugal: 2
34
Óptica 2000
78.33
Revenue in 2014
Millions of euros
Cooperation projects
Óptica 2000, the chain of stores specialising in vision
and hearing products, achieved revenue of EUR 78.33
million, which represents a 3.9% increase on 2013. Net
profit increased by almost 16% to EUR 5.53 million, as
a result of the improvement in internal management
and cost containment.
In 2014 the brand reinforced its customer service and
technological innovation policy with the inclusion of
new teams at some of its establishments and with the
launch of a prevention programme for eye diseases
such as macular degeneration, glaucoma and diabetic
retinopathy. This project, which is being carried out at
the Óptica 2000 optometry clinics, includes prevention
check-ups and tests.
This type of service, which includes cutting-edge
technology, forms part of the company’s policy in
relation to differentiation and contribution of value
added to customers, particularly those presenting eye
health problems.
The chain also continued to cooperate with
various institutions in order to take part in
cooperation and aid projects for the most needy.
In this connection, there are various agreements,
with the Universitat Politècnica de Catalunya,
the Barraquer Foundation (donations of glasses
that are shipped to countries outside the EU)
and other organisations through which optical
material is provided to children in need.
With regard to the commercial offering, in 2014 Óptica
2000 launched new ranges of ophthalmic lenses and
simplified the price categories in six major blocks,
thereby enabling it to provide clearer messages and
to facilitate the sales staff’s work and the customer’s
understanding.
In its promotions, Óptica 2000 always offers the latest
trends on the market and the most current designs at
competitive prices.
Moreover, progress was also made in the telematic
integration of orders with the lens suppliers. As a
result, Óptica 2000 was able to implement a system to
cut contact lenses remotely at 40 stores. This process,
which was launched the previous year, will continue in
2015 until the scheduled number of stores is reached.
Another area of significant progress that began in 2014
and that will be developed over coming months is the
digitalisation of the entire database of glasses frames in
order to improve the management system and to able
to offer enhanced customer service. With this system,
the user has the option of taking a digital photograph
and trying out all the frame models on-screen using his
or her own image.
Óptica 2000 maintains its policy of ongoing training in
cooperation with the suppliers in order to keep its staff
up-to-date at all times with regard to the latest trends
in R&D, the designs appearing on the market, etc.
Audiology care
Óptica 2000 increased the number of
establishments providing an audiology service
to 73. It also added new IT supports and tools
in order to increase and enhance the service
offered to customers. All these establishments
have specialist staff and the latest hearing aid
models so that customers can choose those that
best suit their needs.
TE INVITAMOS A
UNA REVISIÓN
AUDITIVA GRATIS
Ahora tu audífono con el
precio mínimo
garantizado
Y paga hasta en 12 meses sin intereses*
At 2014 year-end Óptica 2000 had 108 establishments.
Óptica 2000 stores:
Audífonos
108
In Spain: 106
Andalusia: 23
Extremadura: 1
Aragon: 4
Galicia: 4
Asturias: 3
Balearic Islands: 2
Cantabria: 1
Canary Islands 3
Madrid: 19
Castilla y León: 5
Navarre: 1
Catalonia: 19
Basque Country: 4
Valencia Autonomous
Community: 10
Murcia Autonomous
Community: 4
Imperceptible
para todos
menos
para
ti
* El plazo para solicitar la diferencia es de dos meses desde la fecha de la compra. El audífono deberá cumplir las características exactas de marca, referencia y modelo. Será necesario
mostrar el presupuesto con el sello de dicho establecimiento y fecha. Tras comprobar su veracidad, aplicaremos el precio mínimo garantizado en el momento de la compra del producto.
**Financiación sin intereses hasta en 12 meses. Gastos de gestión financiados, 9€. Intereses subvencionados por Óptica 2000, S.L. Financiación sujeta a la aprobación de Financiera
El Corte Inglés E.F.C., S.A. Por compras superiores a 300 €. Recibo mínimo 30€. Del 01 de marzo de 2014 al 30 de abril de 2015. Ejemplos de financiación de compras:
- Importe: 300 €, aplazamiento a 10 meses sin intereses, TIN 0%, TAE 6,69%, gastos de gestión: 9€, importe total aplazado: 309 €.
- Importe: 600 €, aplazamiento a 12 meses sin intereses, TIN 0%, TAE 2,79%, gastos de gestión: 9€, importe total aplazado: 609 €.
optica2000.com
In Portugal: 2
36
Revenue in 2014
2,350.12
Millions of euros
In 2014 the Viajes El Corte Inglés Group recorded
revenue of EUR 2,350.12 million, which represents
a 4.5% increase on the previous year. Net profit
amounted to EUR 37.42 million, up 7.7% on 2013.
In 2014 Viajes El Corte Inglés continued with the
innovation process launched in previous years and
paid particular attention to the development of
software in all processes. This enabled it to broaden
its product offering, improve prices and increase
productivity. Noteworthy among the new software
launched is a specific application for booking cruises,
one of the company’s star products.
As a result of this innovation process, the trips and
destinations on offer increased, online sales were
improved and the range of possibilities to organise
packages tailored to each customer was expanded. All
this falls in line with Viajes El Corte Inglés’s business
model, which is based on personalised attention at all
times for both business and tourist travel.
The company holds exclusive rights to the products of
its wholesaler Tourmundial, which designs commercial
offerings tailored to each market segment’s needs. It
also has an extensive network of offices through which
it offers the end customer all the typical products and
services of a travel agency with the guarantee and
quality that characterise the Group.
is made possible by the right advice of travel agents
and the consulting support department. Businesses
are also offered global services and information from
an integrated perspective and, to this end, various
international cooperation agreements are in place.
The company is also specialised in the planning
and organisation of congresses, conventions and
incentive trips, which include the organisation
and implementation of institutional, corporate,
sporting and cultural events. A team of professionals
specialising in full-scale event management handles
both the advice on, and organisation of, the events.
Noteworthy among the most significant events in
which it participated are the Football World Cup in
Brazil, the UEFA Champions League final that took
place in Lisbon, the World Basketball Championship
that was held in various Spanish cities, the World
Figure Skating Championship that took place in Reus,
the Olympic Sailing World Championship in Santander
and the World Shooting Championship that took place
in Granada.
Efforts were made in 2014 to encourage customers to
book their trips early by offering significant benefits,
including the possibility of deferring payment and
granting interesting trade discounts. This customer
service policy gave rise to new campaigns such as
Cruise Week (la Semana del Crucero), Magic Disney
Week (la Semana Mágica de Disney), Circuit Tour
Month (el Mes del Circuito), Fantastic Summer (Verano
Fantástico), etc.
Viajes El Corte Inglés also has alternative sales
channels, which are receiving a major boost in
technological terms, through which it provides
customers with a broad range of services. These
channels include both tele-sales and pure online sales,
which allow the company to offer a balanced service
distribution system tailored to each user’s needs.
It is also important to note the products targeting
the senior customer segment which includes holiday
programmes for 60+, social tourism and cultural
routes in various autonomous communities, as well
as specific products targeting families, such as the
programmes to visit the Disneyland® Resort Paris,
PortAventura and City of Arts and Sciences theme
parks and, in the area of cruises, the Disney Cruise Line
programmes.
An extensive office network
Viajes El Corte Inglés has an extensive office
network both in Spain and abroad. At 2014
year-end, the total number of offices was 492
in Spain and 92 abroad.
The company is also specialised
in the planning and organisation
of congresses, conventions and
incentive trips, which include the
organisation and implementation of
institutional, corporate, sporting and
cultural events.
Viajes El Corte Inglés continued to develop cultural
products that combine a hotel stay with tickets to
exhibitions, operas, concerts, etc. Noteworthy in this
connection are the cooperation agreements entered
into the Thyssen-Bornemisza museum in Madrid and
the Gran Teatre del Liceu in Barcelona.
The Business Division is the leading agency in
the corporate customer business and is designed
to work efficiently with both large multinational
corporations and public agencies as well as for SMEs.
The company’s aim is to provide its customers at all
times with the best services at the lowest price, which
Viajes El Corte Inglés office in Panama inaugurated in 2015
38
El Corte Inglés IT group:
The information and communications technology area
of the El Corte Inglés Group comprises Informática El
Corte Inglés, Investrónica and Telecor. In 2014 these
companies obtained aggregate revenue of EUR 737.10
million, up 11.6% on the previous year, and net profit
of EUR 24.18 million, 18.1% more than in 2013.
Informática El Corte Inglés
Informática El Corte Inglés is specialised in the
integration of solutions and services, in technological
consultancy adapted to businesses and in digital
transformation. Due to its experience and market
knowledge, it provides public and private organisations
the tools they require in order to adapt to the new
business models and to address the major challenges
of modernisation and transformation facing them.
Customer focus is the hallmark of Informática El Corte
Inglés. In order to customise its value propositions
as much as possible, it included in its applications
new technological solutions (Cloud, Mobility, Big
Data Analytics and Social Business) to its customers’
processes and strategies and created a new offering
that brings together all these proposals. This includes
centres of excellence that specialise in new solutions
and in how to apply them to the various business
processes.
This commitment to the digital evolution was
embodied in the development of new projects in the
public sector, trade, tourism, telecommunications,
financial institutions, insurance companies and
industry.
40
In this regard, Informática El Corte Inglés took part in
a large number of digital transformation projects in the
public and private sectors.
Last year, Informática El Corte Inglés focused its
efforts on helping to drive the digital transformation
process under way in society in general. It provided
organisations with the tools they need to achieve this
and established itself as a benchmark supplier of new
solutions for global strategic projects.
Noteworthy in the insurance sector were the “talent
management” solution at a Spanish company, which
is the first project carried out in Spain with SAP’s
innovative Cloud Success Factor solution, and the
online collaboration project for one of the largest
multinational insurers aimed at integrating all personal
communications (mobile, landline, email and video
conference) worldwide.
Revenue in 2014
737.10
Millions of euros
In addition, as a result of the agreement between
Informática El Corte Inglés and the Mexican company
Kio Networks, a high-availability data centre was
launched in Murcia at 2014 year-end. This centre
boasts the highest levels of certification in security and
environmental responsibility.
In 2014 Informática El Corte Inglés increased its
international presence by raising its significance
through more resources and new projects. The
company achieved major strategic agreements,
including the agreement entered into for three
years with a US county for the implementation of a
document management system in its 37 departments,
thereby obtaining authorisation and certification to
carry out professional projects and services in the US
public sector.
Similarly, Informática El Corte Inglés consolidated
its position in certain Latin American countries such
as Mexico, Peru and Brazil where its presence was
strengthened through cooperation with local partners.
Noteworthy among the projects carried out in Latin
America were the creation and launch of the Integrated
Public Safety Centre (Centro Integrado de Segurança
Pública) in a Brazilian state in which an advanced, 24hour intelligent monitoring system will be set up.
Informática El Corte Inglés
took part in a large number
of digital transformation projects
in the public and private sectors.
An outstanding project in telecommunications was
the Global Applications Support Project for one
of the leading organisations in the sector, notably
management of email communication and a
collaborative environment with more than 80,000
users.
An agreement was entered into last year with the
Universitat de Girona to launch the SmartHealthcare
master’s degree. This course prepares technologists for
the forthcoming revolution based on the intensive use
of data in the health care service sector. The company
also ratified its commitment with Gijón Polytechnic
School of Engineering, affiliated with the Universidad
de Oviedo, in order to boost technological innovation
at university level.
Investrónica
Investrónica’s main activity is IT product logistics.
Also, through its research centre, Invesgenia, it took
part in the development of major technological
projects. Most significant in this regard was its role in
the digital signage business.
Telecor
Telecor, a Group company specialising in the
marketing of telecommunications products and
services, offers customers (private customers,
independent contractors, SMEs, etc.) an independent,
multi-operator service covering the entire offering
currently available in the domestic market. For this
purpose, it has agreements in place with all the
telephone operators that exist in Spain. This enables
it to advise customers and provide them with the
best solution according to their needs. To this end, its
employees at all times apply criteria of impartiality,
level of technology and economic benefit in order to
find the best option when choosing the device to buy
(telephone, tablet, etc.), as well as any accessories and
related services, in at the best prices.
The Telecor stores are at the cutting
edge of technology in terms of
communication with customers.
The Telecor stores are at the cutting edge of
technology in terms of communication with
customers. Through the various access channels
available (stores, telephone channel, digital signage,
website and mobile application) and the IT support
tools in place, customers may consult the product
or service they wish to acquire directly, compare the
various operators’ rates, check the stock of products
in real time, reserve a purchase, and either reserve
collection at the chosen store or request a home
delivery.
In the services provided to independent professionals
and small businesses, Telecor offers all the
technology they need to develop their business:
mobile and fixed telephony, telephone switchboards,
telecommunications engineering (entire telephone,
architecture and Internet security projects, and
telecommunication systems management), IT
solutions for retail (computers, printers, POS
terminals, shift management, etc.), interactive digital
communication, 3D printers, as well as website
development and e-learning projects.
Telecor store in calle Conde de Peñalver, 45-47 (Madrid).
42
Insurance Group:
Centro de Seguros y Servicios,
and Seguros El Corte Inglés
112
Centro de Seguros y Servicios
branches
Their aggregate consolidated revenue in 2014 totalled
EUR 182.02 million, which represents a 3.2% increase
on the previous year. The aggregate net profit for the
two companies amounted to EUR 44.42 million, up
10.3% on 2013.
Centro de Seguros y Servicios
Centro de Seguros y Servicios increased its sales
presence by opening new establishments. At 2014 yearend, it had 112 points of sale in total.
The year featured an increase in commercial activity,
mainly in the family insurance classes (motor, home,
health, life and accident) which, together with an
improvement in the cancellation rate, gave rise to a
12.2% increase in the number of policies in force that
comprise the brokerage portfolio of these types of
insurance.
The insurance offering was also enhanced and
increased in 2014 through the launch of new health,
savings, pet and mobile telephone insurance products
designed in-house. In addition, part of the offering
was renewed and updated by improving the coverage
of certain health products for families. All this in
cooperation with prestigious, specialised insurance
companies such as Adeslas, Allianz, Asisa, Axa,
Generali, Mapfre, Ocaso, Pelayo, Sanitas, Santalucía
and Seguros El Corte Inglés.
44
Revenue in 2014
213.2
Millions of euros
Seguros El Corte Inglés
The El Corte Inglés Group operates in the Spanish
and Portuguese insurance industries through two
companies: Centro de Seguros y Servicios (an
insurance broker) and Seguros El Corte Inglés
(an insurance company which operates in the life and
accident insurance lines and manages pension funds).
Pension plan assets
under management
182.02
Millions of euros
As part of the Group’s multi-channel strategy, the
broker’s website continued to be developed by adding
new functionalities and services in order to consolidate
this channel further as an insurance sales, advisory and
assistance centre. At the same time, Centro de Seguros
y Servicios also fostered the use of social networks as a
means of two-way communication with customers.
The premiums accrued in 2014 amounted to EUR
149.7 million, up 3% on 2013, of which EUR 114.2
million related to life insurance (+1.9%) and EUR 35.5
million (+7%) to accident insurance. The moderate
increase in life insurance premiums occurred as a
result of the decision to minimise the sale of savings
insurance in 2014, in view of the exceptionally low
interest rate situation, and to focus sales efforts on risk
life insurance, which performed excellently.
Total income, comprising premiums and other items,
amounted to EUR 199.2 million, up 2.8% on 2013.
Accrued premiums
of Seguros El Corte Inglés
in 2014
149.7
Millions of euros
The work required to fully adapt to the new Solvency
II requirements progressed well in 2014. Decisive
progress was also made in the development of the new
IT platform and in the provision of new, cutting-edge
electronic mobility equipment to the entire sales force.
As regards the pension plan management activity,
at 2014 year-end, the assets under management,
including the assured savings plans, amounted to EUR
213.2 million.
In order to market the various insurance products
and services through the broker sales channels,
numerous promotional campaigns were launched,
offering significant discounts, benefits and prize draws.
Advertising campaigns were also conducted using
various internal and external communication media.
The Value of Experience (El Valor de la Experiencia)
advertising campaign received several awards at the
Ibero-American Advertising Festival, the Cannes
Festival, the Sol Ibero-American Festival, and the 2014
Effectiveness in Commercial Communication Award,
among others.
In 2014 Centro de Seguros y Servicios carried out
two technological innovation projects. The first is
a management model for the broker’s information
systems that reduces transaction costs and
streamlines the process of including new products and
functionalities. The second is a customer segmentation
model for enhancing loyalty.
Operating report
of El Corte Inglés
46
Corporate Social
Responsibility
13
Corporate Social Responsibility
47
Commercial dimension
50
Environmental dimension
65
Social dimension
70
47
Our
principles
Our business model is supported by a series of ethical
and responsible principles held by the Company. Our
corporate social responsibility (“CSR”) strategy is
developed within this framework.
Ethics and responsibility
Ethical and responsible behaviour in all spheres of
the Company’s activity, which engenders trust and
consolidates our reputation.
CSR forms part of the Company’s day-to-day activities
and, therefore, it involves the organisation as a whole.
Accordingly, the Group has a Social Responsibility
Committee, representing all the strategic and
management areas. The Committee is supported
by various interdisciplinary working groups which
deal with various CSR-related matters. In this way we
guarantee the application of our CSR principles at all
levels of the organisation.
Guarantee and customer
service
Quality, service and guarantee with a broad,
differentiated and innovative commercial offering,
which allows us to maintain the growth of our
business model.
El Corte Inglés participates in the United Nations
Global Compact, which obliges it to assume as its
own all the ethical principles and those referring to
respect for the human, labour, environmental and anticorruption rights embraced in this international code
of conduct.
Relationship and ties
with stakeholders
Ongoing seamless relationship with
stakeholders: customers, employees, suppliers,
shareholders, competitors, social organisations,
public and private institutions, and society in
general.
Respect for the
environment
Commitment to the environment, which affects
the various areas of our business activity.
48
Our principles 49
Our commitments
to our customers
Commercial
dimension
Our business model
Our customers
75 years of history are testament to our business
model, the pillars of which, constant innovation
and adaptation to the Company’s changing needs,
are present in all our areas of activity. Using the
department store as a starting point, El Corte Inglés
has created a corporate group which has seen the
inclusion of new commercial proposals and services
which include hypermarkets, supermarkets, DIY,
opticians, travel agencies, insurance, IT, etc. All of these
present a series of common features that characterise
and differentiate El Corte Inglés: quality business,
a wide specialised offering, a good quality to price
ratio, personalised customer care, services which are
differentiated and designed to satisfy the customer and
a full guarantee on all purchases.
Our customers are the centre of our business model
and, therefore, our entire commercial strategy is
aimed at ensuring maximum customer satisfaction.
Our biggest reward is the trust customers place in us,
which strengthens our commitment to quality, service,
choice, specialisation and guarantee as testified
through our slogan “If you’re not satisfied, we’ll give
you your money back”.
We have been setting trends for 75 years as pioneers
in the industry, promoting change and creating new
concepts. We do this in all our spheres of activity, in:
technology; logistics processes; the development
of IT tools; and the construction of spaces and
environments with cutting-edge design and which
provide a memorable experience. We suggest new ways
of understanding fashion, culture, gastronomy, leisure,
technology, decoration, etc. Innovation is a hallmark of
the Company and our business model is intrinsically
linked to it.
Thanks to this relationship of mutual trust that we
share with our customers, our stores maintain a
positive trend in customer numbers, with more than
640 million visits in 2014. It is also worth noting that
10.7 million people currently have the El Corte Inglés
charge card.
We have been setting trends for 75
years as pioneers in the industry,
promoting change and creating
new concepts. We do this in all our
spheres of activity.
Quality
We work to ensure that quality is
present in all our areas of operation.
There is quality in food, fashion,
household goods, leisure, sport,
electronics, etc., in the services we
offer, in our buildings, the facilities
and the environment we create for our
customers.
Choice
Service
We have a wide-ranging, varied and
innovative commercial offering involving
all types of products. Since we believe in
customers’ freedom of choice we offer a
wide range of brands, products and models
at our stores that cater for every need,
preference and economic level.
Personalised customer care and our
vocation to serve are what differentiate
us as a company. We listen to our
customers’ suggestions in order to
provide them with the most adequate
response and offer them a wide range
of services at all our stores.
Specialisation
Guarantee
Thanks to the training of our professionals
and the wide range of products we offer,
we are specialists in all the areas in which
we work. We are specialists in fashion,
perfumery, food, decoration, culture and
leisure, travel, insurance, IT, etc.
This commitment includes all of the
foregoing because it allows us to
guarantee the products and services
we offer at our stores. It is key to
the trust-based relationship that we
maintain with our customers.
In this connection, we have built relationships of
cooperation and trust with our suppliers and forged a
permanent link with the society around us.
Satisfaction barometer
Our daily work is focused on our customers’ satisfaction and, in order to achieve this aim, we need to know what
they think and want from us. To this end, we have been preparing an internal barometer for several years based on
surveys conducted with our customers. In 2014 more than 60,000 interviews were carried out, the findings of which
reflected a high degree of satisfaction.
The company is also analysed by companies and bodies from outside the Group which complement our own
continuous evaluation. The findings confirm the level of our customers’ satisfaction and that El Corte Inglés is
highly rated by society.
50
Commercial dimension 51
In constant communication
We listen and respond
We listen to our customers on an ongoing basis in
order to respond to their expectations and queries
and to offer them what they need. We are interested
in their thoughts and opinions and, accordingly, we
maintain fluid and constant communication through
various channels, ranging from telephone to e-mail,
social networks and our own website, in addition to the
direct and personalised customer service offered in our
establishments.
Also, social networks and platforms such as Facebook,
Twitter and YouTube enable us to maintain a real-time,
interactive relationship with the general public, where
they can send us suggestions and comments to help us
improve every day. At the same time, we keep customers
informed about one-off actions, fashion trends, events
at the various establishments, product launches,
competitions, prize draws, etc.
• Over 5 million telephone calls to customers
• More than 3 million telephone calls handled
• 370,000 text messages sent to customers’
mobile phones
• 115,000 consultations handled by e-mail
Inherent to our business model is a wide range of
products and services designed to satisfy all types of
customers with different tastes, needs and economic
possibilities.
In this connection, this calling to offer good customer
care led us to be pioneers in numerous areas such as
the personal shopper service, offering personalised
fashion advice, and the goods search service.
This is all in addition to our advertising
communications, in line with the expectations
generated by a responsible company. The Advertising
Self-Regulation Association (Autocontrol), which
monitors ethics and fairness in advertising for the
benefit of consumers, once again awarded El Corte
Inglés the certificate of social responsibility for its good
practices in relation to advertising.
Our websites
On our El Corte Inglés website, we offer information
on anything that might be of interest to our customers:
opening hours, store locations, activities at our
establishments, promotions and product offers,
payment and financing facilities, etc.
In 2014 the El Corte Inglés website received more than
227 million visits, representing an increase of 46.7% on
2013, and had more than 4.7 million registered users
(a 12% increase on 2013) making it a benchmark in
e-commerce in Spain.
We also run web pages of other business lines such
as Hipercor, Bricor, Sfera, Viajes El Corte Inglés, etc.,
which adapt to the specific needs of their customers.
52
Our products and services
Mention should also be made of other areas such as the
charge card, the gift card vouchers, the tailoring service
and the various personal payment and financing plans.
In this regard, we must also highlight the Christmas
advanced credit facilities offered by Financiera El
Corte Inglés, which enable all customers to make their
purchases before the Christmas holidays and defer
payment based on their individual needs.
Another new service in 2014 was Click&Collect, which
enables purchases of fashion, accessory, footwear, IT,
toy, culture and leisure items, etc., to be made online
and collected in El Corte Inglés and Supercor stores.
This service was in addition to the Click&Car service
for purchases in supermarkets which was implemented
in 2013.
Quality, safety and traceability
We strive, on a daily basis, to ensure the quality,
traceability and safety of the products and services we
offer, incorporating all the systems and procedures that
may enable ongoing improvement.
regard to allergens. Note should also be made of the
implementation of a new system of health and hygiene
audits at all of our department stores. The objective of
these audits, performed by non-Group companies, is to
guarantee compliance with our food quality and safety
standards at supermarkets, hypermarkets, cafés, etc.
In the food area, two measures carried out in 2014
should be highlighted. The first is in regard to labelling,
which required us to make greater efforts in terms of
the transparency of information we provide to our
customers, both us and suppliers, in accordance with
the EU Regulation on the provision of food information
to consumers, which came into force in 2014 and
focuses on the composition of products, especially with
With regard to manufactured products, i.e. household
goods, toys, home appliances, etc., advances have been
made in the project commenced in 2013 to compile
and update national and international legislation
applicable to each product family. For this purpose, the
Group selected a global network of laboratories able to
verify that the requirements have been implemented
by our providers for the items that we sell.
Laboratory
testing
Mention should be made of the additional efforts made
in all areas of children’s products, with tighter controls
on childcare products and toys.
In the fashion area, we have implemented a new
resistance measurement system both for textile
garments and footwear, with a substantial increase in
the number of tests carried out as compared to 2013,
achieving considerable improvements in terms of
quality and safety. With regard to controls on chemical
substances (the REACH+ programme), significant
reductions were achieved in substances that presented
any kind of risk. We also doubled the capacity of the
fabric review centre located in Cáceres in order to
improve quality and safety.
In recognition of these measures, the Spanish
Quality Association (AEC) offered El Corte Inglés the
presidency of the Fashion Industries Committee, a
meeting point of excellence for all the players in the
textile and accessories supply chain.
Within the monitoring system, the consumer alerts
issued by the autonomous communities, the Spanish
Agency for Consumption, Food Safety and Nutrition
(AECOSAN) and the European Union’s RAPEX network
are also checked on a daily basis, and the appropriate
measures are adopted.
• 7,450 food samples analysed, 98% of which were
performed at our own food laboratory, with an average of
5 analyses per sample, giving a total of 37,250 tests.
• 3,369 manufactured items, with an average of 6
analyses per item, totalling 20,214 analyses. In addition,
over 2,000 labels, 642 instruction manuals and 3,085
quality dossiers were reviewed, which included a large
number of certificates for complying with CE marking.
• 19,800 physical-mechanical tests on fashion items,
at an average of 7 analyses per sample, giving a total of
138,600 tests performed.
• 2,964 samples of chemical substances (REACH),
labels and child safety, with an average of 15 analyses
per sample, representing 44,460 tests carried out in total.
• 4,535 samples of textiles and accessories in our
fashion laboratory, with an average of 9 analyses per
sample, giving a total of 40,815 tests.
• 382 audits on health and hygiene parameters
conducted at our department stores.
54
Sustainable products
Animal welfare
We work to consolidate the presence of sustainable
products in all our business areas, ranging from food
and mass consumption goods to cosmetics, fashion
and domestic appliances (mostly highly energyefficient products). We are aware of our role as a
distributor and promote sustainable consumption,
thus responding to society’s interest in quality
consumption with minimal environmental impact.
We are sensitive to the proper care and treatment
of animals. For this reason, we are developing a
responsible trade policy for pets, in cooperation
with associations concerned with their wellbeing, both at a national and regional level. In this
connection, centres where pet products are sold
promote the adoption of animals and carry out
awareness-raising projects.
In the food area, we are committed to sustainable
fishing. Since the publication of our policy of
responsible purchases of seafood and fish farming
products in 2011, we have worked on various lines
of measures in order to develop a broad catalogue
of sustainable fishing and fish farming products.
In this connection, we have been working with the
MSC (Marine Stewardship Council) for the gradual
introduction into the market of certified products,
and we have a growing number of stock items with
MSC sustainable fishing certification. We are also
making progress in the introduction into the market
of fresh fish with sustainable source certification.
is currently being carried out on 25 new products
including napkins, kitchen roll, toilet paper,
packaging, etc.
In the home appliances area, we have promoted
the acquisition of more energy efficient products by
participating in various “Renove” upgrade schemes,
and we have cooperated on waste prevention
awareness programmes. In this same context of public
awareness, we are committed to disseminating good
practices with a view to reducing food wastage in
homes.
In fashion, we offer a wide range of sizes; in
fact, 2014 saw the promotion of the “Curvies by
El Corte Inglés” fashion show, with up-to-date
brands and designs for plus size women. In the
area of cosmetics and beauty, we also have a
wide variety of products for sensitive skin.
In addition, as a result of our respect for cultural
minorities, we stock almost 1,400 products in our
supermarkets which are kosher, halal, oriental, etc.
We care about the sustainability of natural resources
and, for that reason, our establishments have the
highest number of organic stock items, mainly in
perishable goods, groceries, chilled products and
canned food.
56
We believe in diversity, regardless of age,
preferences or economic possibilities, and this
plurality enables us to provide a service to all
minority groups that require certain specific
products or services, whether in fashion,
cosmetics, or food, etc.
In food, we offer one of the widest selections
of dietary products in the market and we have
our own “Special Line” brand, with over 200
stock items. Also, people suffering from food
intolerances can choose from a wide and clearlyidentified selection of products; accordingly, we
have broadened and improved the offering of both
fresh and grocery products for gluten-intolerant
customers. We also have more stock items
specifically for diabetic customers, and our stores
offer foodstuffs low in fat and/or salt, lactosefree products, and other “free from” foods (which
do not contain gluten, lactose, eggs or traces of
nuts). Also, the labels on our own brands include
easily visible information for customers regarding
allergens.
We also work with GLOBALG.A.P. in order to broaden
our selection of certified sustainable fish farming
products and to raise customer awareness with regard
to the added value offered by this product, with Friend
of the Sea labelling.
We also support local products. We do this through a
programme we call “Kilometre Zero”, which enables
us to offer vegetables and other produce gathered
from market gardens in the local area the very same
day. We have also entered into agreements with small
local markets that provide fish to our supermarkets in
the area.
Specific tastes and needs
In addition, we continue to make progress in the
use of paper and wooden products from sustainable
forests, both for our internal use and in the offering
of products we sell in store. For example, our
own consumer goods brand now has 21 cellulose
references with FSC certification, which guarantees
that it is sourced from sustainable forests, and work
Our suppliers
We have a relationship of mutual trust
and cooperation with our suppliers
which enables us to develop projects
together.
Good supplier selection and accreditation form the
starting point for being able to satisfy our customers’
quality requirements. For this reason, we have a
relationship of mutual trust and cooperation with
our suppliers which enables us to develop projects
together, especially those which represent innovation
or differentiation from our competitors.
All our suppliers must accept and commit to ethical
principles, including compliance with the BSCI Code
of Conduct, issued by the Business Social Compliance
Initiative, a not-for-profit organisation based in
Brussels to which the El Corte Inglés Group has
belonged since March 2008. On a parallel basis, we
carry out processes to verify compliance with these
principles.
Origin and sourcing
Number of suppliers per company
Company
Non-EU countries
EU countries
Total
2,088
18,788
20,876
-
3,586
3,586
542
2,346
2,888
76
1,066
1,142
-
777
777
Sfera Joven
382
861
1,243
Óptica 2000
3
213
216
El Corte Inglés
El Corte Inglés-Grandes Armazéns
Hipercor
Bricor
Supercor
58
The diversity and range of our product selection
enables us to introduce new items and products which
appear in all areas of activity on an ongoing basis. We
seek quality at the best price and also promote the
acquisition of local products. We make the majority of
our purchases from national and European suppliers.
However, the globalised reality of the market and
the complexity of the supply chain have led to the
direct purchase of certain types of products in other
countries.
To ensure optimum management of all merchandise
from third countries we have a network of commercial
offices around the world. In 2014 a new office was
opened in Vietnam which will manage the transactions
performed in South-East Asia.
We are committed to quality, safety, social
responsibility and the sustainability of our
products and, accordingly, we assess the social
and environmental risks in the supply chain. Our
international team is located in the Far East, Middle
East, Near East and the Maghreb region.
Audits in third countries
Social audits
Factories audited, by country 2014
In 2014 we made progress in relation to our
commitments to check the social and working
conditions of suppliers through social audits carried
out under the framework of the BSCI system, which
takes as a reference the fundamental conventions
of the International Labour Organisation (ILO).
Our RSE certification protocol is designed as a
continuous improvement process enabling suppliers
to meet all the BSCI Code of Conduct requirements
in the short term.
On a parallel basis, we hold regular meetings with
a Stakeholders’ Working Group in which trade
unions, consumer organisations and various NGOs
participate, with the aim of exchanging information
and opinions on how to improve the compliance of
suppliers’ social and environmental conditions in
third countries. In this working group we report on the
projects that we carry out in the supply chain and seek
joint solutions where required. The contributions and
suggestions of this group enable us to advance in line
with our mutual expectations.
Since we put the social audit system into practice, we
have conducted a total of 1,713 audits in 19 countries.
603 audits were conducted in 2014.
Vietnam
Vietnam
OtherOther
Morocco
Morocco
22 22 57 57
18 18
2009
40
2010
120
2011
240
2012
240
2013
470
2014
603
TOTAL
60
Compliant
Compliant
719 719
Non-compliant
Non-compliant
39 39
Bangladesh
Bangladesh
112 112
ChinaChina
501 501
As part of our commitment to social responsibility,
we also have a social audit programme for the textile
industry in Europe, reassessing and certifying textile
suppliers in the EU, mainly in Spain and Portugal.
In this connection, we assess, through audits, the
capabilities and workplace safety environment of our
own-brand suppliers that account for most of our
fashion supplies. This enables us to gain a deeper and
truer knowledge of the textile supply chain and a better
selection of workshops.
India India
129 129
Textile audits in Europe
Active suppliers, by European country 2014
Results of audits 2014
(textile industry, own brand)
(textile industry, own brand)
Bulgaria
Bulgaria
11
11
Italy
49
Audits
Re-audit
Re-audit
141 141
Pakistan
Pakistan
30 30
Turkey
Turkey
30 30
Audits of third-country suppliers
Year
Results of audits 2014
Portugal
Portugal
83
83
FranceFrance
4
4
of Europe
Italy
Rest ofRest
Europe
11
49
11
Re-audit
Re-audit
29
29
Non-compliant
Non-compliant
37
37
Compliant
Compliant
211 211
Spain Spain
484 484
1,713
International projects
In 2014 we continued to participate in various
international projects that are being carried out
in non-EU countries, in order to help to improve
labour practices and comply with the codes of
conduct.
• Tamil Nadu initiative (India)
Developed by the Ethical Trading Initiative
in 2013 with the backing of BSCI and the
participation of companies, trade unions, NGOs
and international and local institutions, this
project for the textile industry of Tamil Nadu
State (India) aims to improve the social and
labour conditions of young female workers,
bringing to an end the practice known as
“sumangali”, which is deeply rooted in the
region. In December 2014 contacts were
strengthened at local level in order to provide a
new boost to the programme, which must tackle
the challenge of changing ancestral customs.
El Corte Inglés, from its office in New Delhi, is
taking part in this three-year programme which
includes training courses for employers and
employees and promotes regulatory changes
that favour the employees.
62
• Investigation into child labour in the
footwear industry (India)
This project, headed by BSCI and in which
El Corte Inglés participates, aims to identify, in its
first phase, the prevalence of homeworking and
child labour in the footwear industry in the Vellore
district (Tamil Nadu State, India). This initiative
involves identifying the subcontracting of work in
homes in small villages and taking measures in
order to eradicate possible cases of child labour.
The second phase will be carried out in the Agra
production region with the participation of various
NGOs, in order to design schooling programmes
for those cases that are detected.
Support for the Bangladesh textile
industry
In 2014 we maintained our commitment to the
Bangladesh textile industry. Among the measures
adopted at international level, note should be made
of two which were supported and coordinated by the
International Labour Organisation (ILO) and benefited
from the participation of trade unions, NGOs and
international organisations and companies, including
El Corte Inglés:
• Accord on Fire and Building Safety in
Bangladesh. In 2014, an ambitious inspection
programme was carried out at more than 1,600
Bangladesh factories in order to ensure the safety
of their workers with regard to building structure,
electrical installations and fire prevention systems.
El Corte Inglés involved all its suppliers in
Bangladesh,
conducting more than 300 technical inspections as
part of the programme, and employed a group of
engineers who performed a field assessment of the
required improvements of the factories.
• Rana Plaza Compensation Arrangement In 2014
an international aid fund was set up for the victims
of the accident. International and local companies,
trade unions and NGOs, together with the
Bangladesh Labour Ministry, created the structure
and the processes required to gather together all the
claims and calculate the amount of compensation.
In April 2015 all the victims had received at least
70% of the amounts calculated on the basis of this
agreement. For more information, see http://www.
ranaplaza-arrangement.org.
• Cotton Pledge project (Uzbekistan)
This initiative, promoted by the Responsible
Sourcing Network, aims to eradicate forced labour
among children and adults in the cotton harvest, a
practice supported by the Uzbekistan authorities.
El Corte Inglés is one of the 140 international
companies that have entered into the initiative.
Environmental
dimension
Logistics
As a key area of business activity, logistics require
continuous updating and improvement in order
to achieve efficiency and dynamism. Accordingly,
we incorporate, on an ongoing basis, the latest
technology and systems that appear on the market.
These improvements have a positive impact on the
environment.
The Group has two main logistics centres located
in Valdemoro (Madrid) and Montornès del Vallès
(Barcelona), where deliveries from suppliers are
centralised, optimising the logistics and transport
process. In addition, the Group has a network of local
warehouses (Valencia, Málaga, Seville, Las Palmas, A
Coruña and Zaragoza, among others) which provide
the necessary flexibility to the department stores in the
delivery of merchandise.
2014 saw the continuation of the direct collection
processes at our suppliers for the immediate
integration of products between own and third-party
supply chains.
A similar model is followed for imported products: in
the countries of origin the global logistics operators
with whom we work consolidate the merchandise
together in their warehouses in order to subsequently
optimise the loading of the containers in which all the
merchandise is transported. This optimisation of the
loading of the containers provides significant savings
in shipping and air transport.
International logistics flows
· Countries of origin where purchase
made: 31
We are always concerned about the environment and,
accordingly, we are continuously active in terms of
rationalising resource consumption and managing
waste. In addition, in 2014 we intensified the training of
our employees on environmental matters.
· Shipping ports: 75
Materials
· TEUs transported (containers): 18,365
In 2014 we made advances in the incorporation of
materials with lower environmental impact, focusing
on products with sustainable source certification
and responsible, as well as economically viable,
environmental management.
· m3 transported: 553,060
· Average occupancy rate
of containers: 81%
· Containers with prior merchandise
consolidation: 30%
As a result of these actions, we have incorporated
various materials with FSC forest certification, which
guarantees their sourcing from responsibly-managed
forests, with controls throughout the production chain.
Specifically, FSC-certified products were introduced in:
• Sales desk receipts.
• Brochures and catalogues.
• Tickets for shows.
In 2014 we strengthened our paper consumption
reduction programme, making significant progress on
consumption in 2013. This was possible, among other
factors, due to the use of tools enabling information
to be consulted on screen, therefore eliminating the
need to print many reports. Thanks to this project
we are achieving significant reductions in the
consumption of paper.
Commitment to forests
In 2014 the FSC certification received
a significant boost with the introduction
of FSC-certified paper for sales desk
receipts, brochures, catalogues and
tickets for shows.
For 2015, we envisage the inclusion of more materials
with this certification, such as parking tickets.
We also continued to work with our main printing
suppliers and handlers in order to certify their activity.
Consolidation at source also allows the reduction of
national transport to a minimum, since the goods are
dispatched directly to our logistics platforms from the
ports of arrival. Each container already arrives with the
goods bound for the closest destination warehouse,
thereby minimising road transport.
Also, as the Corte Inglés Group, we have spent several
years adopting measures to adjust our internal
consumption of materials, minimising single use
materials and introducing other reusable or returnable
materials where possible. In this connection, note
should be made of the growing success of the UNE 15
Bag, which enables much more prolonged use. This
attitude is also conveyed to our customers, whom we
try to make aware of the responsible use of resources.
64
Environmental dimension 65
Energy
We work on an ongoing basis to increase energy
efficiency at the facilities of our department stores. In
2014 most of the measures adopted related to two areas
in particular: lighting and industrial cooling.
We managed to ensure that almost
all of the freezer units are fitted with
doors.
A 4% reduction, measured
in m3/m2, was achieved in 2014,
which contributed to a cumulative
reduction of 22% in the period
from 2009 to 2014.
In the area of lighting, we continue to work on
replacing the types of lighting we have at our stores,
incorporating highly energy efficient systems using
LED technology which offers considerable advantages
compared to conventional technology: lower
consumption, longer duration and higher quality light.
In this connection, the Group has taken advantage
of the refurbishments carried out at the department
stores to incorporate the new types of lighting. This
practice has been underway for several years, affecting
mainly the clothes, accessories, sports and footwear
divisions. The café-restaurants and supermarkets have
also been given a new image.
All of these measures represent savings of 50%
compared to the technology that has been replaced.
The measures adopted made it
possible to reduce electricity
consumption, measured in kWh/m2,
by 2.6% in 2014, and by more than
32% in cumulative terms since 2008.
In industrial cooling, in 2014 we carried out significant
measures that had a direct impact on energy
consumption:
• We reviewed each of our supermarkets in order to
optimise the use of their storage rooms, ensuring
that they were not too large and adapting them to the
requirements of the products.
• We managed to ensure that almost all of the freezer
units are fitted with doors.
• In refrigeration equipment, we continued the gradual
incorporation of doors and, following the latest integral
refurbishments, 90% of the linear metres of self-service
areas now have them. Also, all interior fluorescent
lighting in the units was replaced with LED technology
lighting.
• We actively work alongside our suppliers to seek
alternatives to coolants (HFCs), increasing the use of
coolants with lower global warming potential (GWP).
Water
Under the framework of the El Corte Inglés Group’s
Sustainable Water Management Plan, we continued to
work on all the measures to save water and improve
wastewater quality.
• Compliance with permitted levels of fat concentration
in discharges.
• Reduction in odours generated.
Notable management measures with an impact on
water consumption include:
• Replacement of several cooling towers that work
using water with others that work using air.
• Installation of efficient components in facilities, such
as flushometers and timed shut-off taps in bathrooms,
kitchens and workshops.
• Replacement of water filtering equipment for new,
lower-consumption technology.
Among the measures for improving wastewater quality,
we chose to equip our facilities with an ecological
66
microbial fermentation system for the treatment of
waste water, which includes the following advantages:
• Reduction in discharging parameters.
These measures, together with the preventative
maintenance of equipment (control of sanitary hot
water consumption, refrigeration, heating and air
conditioning...) and the continuous training of our staff
contribute to the reduction in water consumption, an
objective which is increasingly difficult to achieve each
year since the most significant measures have already
been adopted.
A 4% reduction, measured in m3/m2, was achieved in
2014, which contributed to a cumulative reduction of
22% in the period from 2009 to 2014.
Emissions
Waste
The close correlation between emissions and electricity
consumption at our Group companies (approximately
77% of total) has led us to focus our main control
measures on this area. Accordingly, we continue to
concentrate on reducing electricity consumption
by using the best techniques available, both in new
installations and by modifying existing ones. Efforts are
also made in awareness-raising, standardisation and
the measurement of consumption in order to improve
energy control.
The segregation of waste at source and the continuous
improvement of management systems enable
the Group to convert waste into resources, thus
contributing to the circular economy, a pillar of the
Europe 2020 strategy.
Another significant aspect is the higher percentage of
certified electricity acquired from renewable sources.
This percentage increased from 16% of total electricity
acquired in 2013 to 27% in 2014.
Other measures were focused on logistics processes or
on the operation of the facilities.
From 2008 to 2014 the cumulative emissions of the
El Corte Inglés Group decreased by more than 38% in
absolute terms.
In 2014 overall total emissions were well below
those of 2013, as a result of good practices in energy
consumption, the improvement of facilities and the
reduction in the emission ratio of energy suppliers.
Overall savings on emissions exceeded 45,000 Tm CO2
eq. (an increase of over 10% on 2013).
There were no significant changes in the Group’s waste
generation trends in 2014.
Hangers
1.4%
Tyres
2.6%
Oil and fats
2.1%
Hazardous waste
0.4%
WEEE (*)
33.7%
We generated more than 30 million kilos of cardboard
by the end of the cycle for this waste product, which
has become a raw material for cardboard packages
reused by the Company.
With regard to WEEE (waste electrical and electronic
equipment), more than 17 million kilos of home
appliances from customers were handled. In order to
improve management in this area, we commenced a
pilot project with the Ecotic integrated management
system, based on the use of technological tools
enabling a unit-by-unit monitoring of large electrical
appliances from creation to the treatment plant. In the
area of small electrical appliances, new containers are
being developed for in-store collection, for the sole
purpose of encouraging the receipt and subsequent
recycling of the waste from our customers.
Cardboard
and plastic
packaging
59.8%
(*) WEEE: waste electrical and electronic equipment
Environmental initiatives
Circular economy
In 2014 El Corte Inglés generated more than 30
million kilos of cardboard by the end of the cycle
for this waste product, which has become a raw
material for cardboard packages reused by the
Company.
68
Waste generated 2014
We continued to participate in the various “Renove”
plans organised by the autonomous community
governments, both those in which we were already
involved (home appliances, air conditioning,
windows...), and others implemented more recently
(emergency lighting, electric bicycles...), as well as
several one-off projects (e.g. backpacks).
Additionally, in 2014 the groundwork was completed
for the signing of a waste prevention agreement
between the Ministry of the Environment and
Planning of the Autonomous Community of Madrid
and the Spanish National Association of Large
Retailers (ANGED) under the framework of the Madrid
Businesses’ Environmental Agreement (PEMMA)
entered into between the Autonomous Community of
Madrid, the Madrid Business Federation (CEIM) and
the Chamber of Commerce of Madrid.
Social dimension
Our team
Our Group comprises a large team of buyers, sales
assistants and professionals specialising in a wide
range of areas. The workforce adapts to the needs of
increasingly demanding and dynamic markets, where
companies must be highly flexible.
Therefore, among other competencies, our
professionals contribute adaptability to change,
efficiency and a customer-based approach. The various
restructuring projects undertaken by our Group over
recent years follow these lines.
DISTRIBUTION OF PERSONNEL BY COMPANY
At the end of 2014, our team comprised a total of
91,437 employees, distributed among all the Group
companies. 5.4% of the total workforce work outside of
Spain.
The Group’s average number of full-time employees
is 80,875.
It should be noted that, the aforementioned workforce
figures do not include, for the first time, the headcount
of investees (Gespevesa, Sephora, FST Hotels, Citorel
and Financiera El Corte Inglés), on the basis of the new
consolidation methods applied.
In 2014 2,400 employees moved from one Group
company to another, demonstrating the ability to
adapt to changes in our activities. This mobility, as
in 2013, related mainly to transfers from Opencor to
Supercor (due to the changes to the establishments)
and from El Corte Inglés to Bricor (due to the opening
of DIY sections in El Corte Inglés shopping centres).
Employees also moved from Hipercor to El Corte Inglés
and vice versa.
Distribution of personnel
by business line
Main figures:
· Total employees at 2014 year-end:
91,437 (*)
- 63% are women and 37% are men
- 92% are permanent employees
- 68% are full-time employees
· Average headcount of full-time employees:
80,875 (*)
· 412,058 training hours
Bricor 1.0%
Óptica 2000 0.9%
Insurance 1.0%
Bricor 1.0%
Sfera
Other
Óptica
2000 0.4%
0.9%
3.0%
Insurance
1.0%
Supermarkets Sfera
Other 0.4%
4.7% 3.0%
ICT
Supermarkets
3.2%
4.7%
Viajes ECIICT
6.2%
3.2%
Viajes ECI
6.2%
Services,
administration
and other
Services,
activities
administration
9.6%
and other
activities
9.6%
Purchasing and logistics
9.4%
Sales
81.0%
Hypermarkets
10.3%
Sales
81.0%
Department
stores
69.3%
Department
stores
69.3%
· 13,725 class-based training courses,
with an average of 11 students and
8.8 hours per course
· 456 people were promoted to positions of
greater responsibility
Purchasing and logistics
9.4%
Hypermarkets
10.3%
by age range
by length of service
(*): In 2014, in light of the new basis of consolidation, this figure does not include
the headcount of investees.
> 20 years
25.3%
36-45
34.2%
25-35
28.9%
> 20 years
25.3%
36-45
34.2%
< 1 year
7.8%
< 1 year
7.8%
1-4 years
9.5%
1-4 years
9.5%
25-35
28.9%
5-8 years
17.9%
< 25
4.0%
5-8 years
17.9%
< 25
4.0%
The distribution of personnel by company, is shown in
the next page.
70
by activity group
13-20 years
20.7%
> 55
10.2%
46-55
22.7%
> 55
10.2%
46-55
22.7%
13-20 years
20.7%
9-12 years
18.8%
9-12 years
18.8%
Social dimension 71
Collective bargaining
In 2014, the processes to elect the bodies
representing the employees (workers’ committees
and workers’ representatives) took place at
various Group companies which are members
of the employers’ association ANGED (Spanish
National Association of Large Retailers).
The electoral processes carried out at the
majority of the workplaces of the aforementioned
companies resulted in the election/renewal of
180 workers’ committees, and the high level of
participation, exceeding 84%, should be noted.
A total of 1,882 workers’ representatives were
elected in these areas.
Furthermore, in April 2014 a new agreement
was entered into for the sales incentive system
at El Corte Inglés and Hipercor. Thanks to these
agreements, which were met with a broad
consensus across the company, the incentives
received by employees under the system
increased by almost 14% in its first year.
Relationship between the company
and its employees
Occupational health and safety
Teamwork and nurturing talent form the foundations
of the relationship between the Company and its
employees. Along these lines, more than 450 employees
were promoted to positions with more responsibility in
2014, as reflected in the following table:
Company
Employees
El Corte Inglés
321
Hipercor
33
Informática El Corte Inglés, Investrónica
and Telecor
24
Viajes El Corte Inglés
21
Other Group companies
57
TOTAL
456
Another way in which the Company fosters its bond
with its team is by granting annual awards to the
personnel who have completed 25 and 15 years of
service, thereby awarding loyalty and constancy. More
than 4,900 received this award, with the following
breakdown:
Company
15 years
2,030
1,626
310
280
61
200
Viajes El Corte Inglés
53
167
111
104
2,565
2,377
Hipercor
Other Group companies
TOTAL
72
Employees
25 years
El Corte Inglés
Occupational health and safety forms part of the
Company’s commitment to its employees. In this
regard, El Corte Inglés’ medical services carried out
several campaigns aimed at the welfare and health of
the Group’s employees, some of which were carried
out in collaboration with public and private healthcare
institutions.
The following campaigns and initiatives carried out in
2014 are worthy of note:
• First aid and cardiopulmonary resuscitation (CPR)
training at shopping centres.
• Breast cancer and prostate cancer (PSA
measurement) prevention.
• Prevention of cardiovascular disease risk (high
blood pressure, cholesterol) and the prevention of
hypothyroidism.
• Campaigns to promote physical exercise, giving up
smoking and the adoption of healthy eating habits, and
various blood drives.
• More than 5,600 people received the vaccination
against seasonal flu.
With respect to the Occupational Risk Prevention
Service, of special note was the statutory audit of the
prevention systems at the companies composing the
Joint Prevention Service, which was performed in 2014.
A large number of employees were involved in the
process, as interviewees and direct participants, which
enabled the integration of the prevention concept in all
areas of the Company.
Training is a key element of our
human resources strategy, since the
training of our professionals creates a
differential value for us as a company.
To perform the audit and the related field trips, 76
of the organisation’s shopping centres were audited,
including the oldest and most emblematic centres. The
results of the audit’s documentary and fieldwork stages
were favourable.
Accordingly, the conclusions drawn from the statutory
audit at our Company reinforce our joint commitment
with the employees to continue to invest in the
improvement of the working conditions and welfare of
all employees, which also has an impact on the quality
and service provided to our customers.
Training
Training is a key element of our human resources
strategy, since the training of our professionals creates
a differential value for us as a company. Therefore,
we implement training initiatives and programmes
adapted to each job position and level of experience,
as well as numerous one-off, flexible actions aimed
at informing and updating employees on new
developments that occur.
Most of the classroom-based courses focus on ongoing
training for the specialisation of the employees.
The aim is to apprise them of the new commercial
and product developments, teach them about new
administrative and management processes that have
been implemented, increase the range and level of
foreign languages spoken and, in general, improve
their skills for performing their various tasks and
responsibilities.
Social dimension 73
Also noteworthy were the classroom-based training
activities aimed expressly at employees who changed
activity, through either the acquisition of new skills
or the transformation and evolution of the type of
business in which they work. The objective in both
cases was the same: to acquire the knowledge required
to perform the tasks relating to their job position
correctly. The opening of Bricor stores in El Corte Inglés
shopping centres is a demonstration of this.
In 2014, specific programmes were also implemented
for management personnel to improve management
skills and leadership of sales teams.
Training actions
Hours
Students
Classroom-based training
409
9,293
3,610
Product, trades and occupational risk prevention
5,953
42,581
54,859
Sales and marketing
1,553
24,929
18,073
Sales, management and IT administration processes
2,310
15,891
24,297
Other
3,500
28,701
49,438
13,725
121,395
150,277
-
290,663
311,843
13,725
412,058
462,120
Total classroom-based training
Online training
TOTAL
74
Average number of students per course
(classroom-based training)
10.9
The voluntary training programmes for employees
provided through the Centro de Estudios Universitarios
Ramón Areces (CEURA) must also be taken into
account. In 2014, 625 employees attended a variety of
courses, as reflected in the following table:
Furthermore, we have made a significant effort
to communicate to our employees both the new
commercial strategies launched in the various areas
and the effects of, and improvements arising from, the
new remuneration policy implemented in 2014.
Managers
8.8
To supplement the classroom-based
courses, the online training platform
enables the Company to deliver within
short periods of time customised,
standardised training to very large
groups of learners.
To supplement the classroom-based courses, the online
training platform enables the Company to deliver
within short periods of time customised, standardised
training to very large groups of learners. Accordingly, in
2014 this methodology was used to design more than
80 interactive courses and modules on various topics
in order to inform sales assistants of the new items
launched throughout the year (fashion and accessories
trends for the spring-summer and autumn-winter
campaigns, the “Back to School” campaign, toys and the
special Christmas credit card, etc.).
We also place special emphasis on the training
provided to employees associated with any type
of procedure governed by law, such as the areas of
occupational safety and prevention, food safety and
hygiene, the handling of fluorinated gases, etc.
Contents
Average duration (hours) of the courses
(classroom-based training)
Diplomas
Bachelor
degrees
University degrees
(new plan)
TOTAL
Law
-
5
143
148
Economics / Business Administration and
Management
1
3
231
235
Computer Engineering
-
-
52
52
Tourism
-
-
41
41
Subtotal
1
8
467
476
University access
-
-
-
82
Master's degree
-
-
-
27
Postgraduate
-
-
-
40
TOTAL
1
8
467
625
Subjects
Social dimension 75
Equality
plan
In 2014 new negotiations began to renew El Corte
Inglés’ Equality Plan. As a result, in May 2015 all the
representatives of the CCOO, Fasga, Fetico and UGT
trade union organisations gave their unanimous approval
to a new Equality Plan that will remain in force until 31
December 2020.
Under the new Equality Plan, the Company has
undertaken to ensure that at least 50% of the new
positions of responsibility created will be occupied
by women. Another of the pioneering measures is the
creation of a specific section on gender-based violence,
which improves the conditions and leave of absence
policy for affected employees.
The new Equality Plan is committed to seeking ways to
enable managers to improve the distribution of working
hours, thereby enhancing employees’ work-life balance.
Furthermore, the agreement establishes improvements
to the existing leaves of absence and ensures that
the remuneration systems are based on the principles
of transparency and objectivity. All the foregoing is
supplemented by equality training which is provided to
the entire workforce.
The new plan falls within the Group’s policy of fostering
equality between men and women and strengthens
previous agreements. In 2008 El Corte Inglés became a
pioneer with the signing of its Equality Plan, which was
met with the unanimous support of the trade unions.
Informática El Corte Inglés and Viajes El Corte Inglés
joined the plan in 2009.
Integration, diversity and equal opportunities
Employee benefits
We believe in integration in the work place and equal
opportunities and, accordingly, we foster activities
aimed at including people with disabilities in the
job market. In addition to our direct workforce, we
cooperate with 60 Special Employment Centres by
contracting services to them and purchasing products
made at these centres.
Among the benefits we provide to our employees,
special mention should be made of the study
assistance, in particular to employees’ children taking
professional training courses, and baccalaureate
and university studies. In this connection, the Joint
Commission of the César Rodríguez and Ramón Areces
Foundations, awarded 3,145 grants amounting to EUR
2.79 million in 2014.
We are also firm believers that diversity enriches us
both as a company and a society. As proof of our
belief in diversity, 3,850 people working at our stores,
representing 4.1% of our entire workforce, do not have
Spanish nationality. The following chart demonstrates
the predominance of foreign employees from Spanishspeaking countries.
The community and the surroundings
El Corte Inglés is woven into the social fabric and
maintains a close-knit and committed relationship
with its environment, sharing citizens’ concerns
and understanding their wishes and worries in
order to help satisfy their needs. As part of the
business landscape and society, we participate in
various cultural, educational, sports, recreational,
environmental and social activities.
Distribution of non-spanish
personnel by country of origin
Eastern Europe
5.0%
Also worthy of note is the group life insurance, which
provides compensation in the event of death and
absolute permanent disability.
North Africa
5.0%
Other
3.0%
In additional to feeling a close bond to the people
and environment where our shopping centres are
located, we have always nurtured our relationship with
numerous social agents and organisations, ranging
from large business groupings and trade unions to
consumer watchdogs, NGOs, the media and all manner
of social associations and groups.
European
Union
29.0%
Latin America
58.0%
76
Social dimension 77
Cultural and recreational
meeting points
Our relationship with institutions
We cooperate actively with several public and private
institutions, various business associations and
employers’ organisations in the industry, as well as
regional and local associations.
El Corte Inglés participates as a member of the Spanish
National Council for Corporate Social Responsibility
and participates in the work it performs; we are
also involved in the implementation of the National
Business and Human Rights Plan launched by the
government in 2013; furthermore, we collaborate
with the Corporate Social Responsibility Committee
of the Spanish Employers’ Confederation (CEOE) and
the Madrid Chamber of Commerce-Madrid Business
Confederation (CEIM) and in the Spanish Network
of the Global Compact. We are also present in the
Corporate Social Responsibility Committee of the
AECE (Spanish Association of Business Consultants)
and the Management Committee of the BSCI (Business
Social Compliance Initiative).
We use all these platforms to foster the protection of
basic human rights, supporting a positive, voluntary
approach which focuses on the promotion and
dissemination of the United Nations Guiding Principles
on Business and Human Rights. This code of ethics
is a benchmark in the search for a balance between
the responsibility of states and public authorities
to guarantee human rights, the responsibility of
businesses, and the implementation of appropriate
measures to compensate and resolve cases of human
rights violations.
We also made progress in our commitment to reduce
food waste, as sponsored by the AECOC (Spanish
Commercial Coding Association) with the support
of the Spanish Ministry for Agriculture, Food and
Environmental Affairs.
78
Our shopping centres are also cultural and
recreational meeting points, at which we host
book presentations, conferences, publishing
and philosophy courses, exhibitions and other
art shows, in addition to many events organised
for children, CD signings, food-tasting events
and a wide range of competitions. Most of these
activities are channelled through Ámbito Cultural
de El Corte Inglés, which continued to develop
its cultural promotion policy with over 2,000
initiatives implemented in the 22 centres where it
has specific rooms for this purpose. El Corte Inglés
also sponsors several cultural prizes and awards
including most notably the Primavera Prize for
Literature, the latest edition of which was won by
the writer Juan Eslava Galán.
Young children can take advantage of the Pitiflú
programme, which offers exclusively children’s
activities and holds around 4,000 events and
shows a year at all El Corte Inglés’ shopping
centres. Although it was launched ten years ago
to entertain children between three and six years
old, Pitiflú has evolved gradually to include cultural
and educational activities in addition to those of
a merely recreational nature. We have met the
demand for events for six- to ten-year olds by
holding robotics, sculpture, painting laboratory,
cooking, dance and creative make-up, workshops,
among others.
Our relationship with society
Our proximity and bond with society leads us to
support numerous local, regional, domestic and
international activities, enabling us to implement
social, cultural, educational and sports programmes
and initiatives. In addition to collaborating with
large organisations such as the Spanish Federation
of Food Banks, UNICEF or the Spanish Association
Against Cancer, among others, we also support small
associations which work to support the most needy.
We maintain an ongoing collaboration with UNICEF,
by selling the NGO’s products at our shopping centres
and through the “Juguetes Solidarios” campaign
whereby, as well as offering highly reduced prices to
customers at Christmas, a donation is made to
UNICEF from the money raised for projects aimed at
children. In addition, we carry out one-off initiatives
for emergency situations in which we involve our
employees and customers, thus increasing the amount
raised for UNICEF to help those affected by natural
disasters.
Support for entrepreneurship
El Corte Inglés supports SMEs and entrepreneurs not
only as a part of its corporate social responsibility
strategy towards its surroundings, but also its
commercial strategy, because it sets the Company
apart from its competitors.
This programme includes a tour of schools around
Spain to help train children between eight and ten
years old in the values of teamwork, camaraderie,
healthy lifestyles, dedication, commitment and the
desire to excel in order to achieve their life goals.
Among the numerous initiatives in which we
participate to support entrepreneurship, special
mention should be made of “Start Up Madrid_10”,
developed by Foro de Empresas por Madrid in
order to implement a public-private cooperation
mechanism to create and drive entrepreneurial
projects in Madrid. The selection criteria taken into
consideration are: creativity, innovation, the business
team and the business plan.
Another of the initiatives in which El Corte Inglés
participates in is Corporación Empresarial de
Extremadura, which was incorporated in 1992
with the aim of fostering economic and social
development in Extremadura, providing financial
support to new investment projects that enhance
the region’s industrial landscape. It is the first
venture capital firm in Extremadura which invests
predominantly in the private sector; it has invested in
16 SMEs, including agricultural, agri-food, industrial,
audio-visual and renewable energy companies.
Around 2,900 direct jobs have been created.
We also collaborate with the Spanish Association of
Sportspeople, the Spanish Sports Council and the
Spanish Ministry of Education, Culture and Sport in
the Sport&Trops project, the aim of which is to help
professional sportspersons find a new profession
when their sports career comes to an end.
Also, in 2014 we sponsored the Fundación
Máshumano’s 9th Concilia Entrepreneur Awards
and collaborated with Fundetec to support the
technological development of SMEs.
Social dimension 79
In 2014 we donated more than 2,200 tonnes of food
to the most needy, either through the Bancos de
Alimentos foodbank organisation or other types of
organisations which aim to provide those in need
with essential items. All this was achieved thanks
to the donations made by the Company and the
contributions made by customers and employees
alike at various El Corte Inglés, Hipercor, Supercor and
Supercor Exprés stores. El Corte Inglés donates on an
ongoing basis essential food products and standard
consumer goods, in addition to all the collections and
“operaciones kilo” food drives which are held at the
Group’s various stores. Bancos de Alimentos, Cáritas,
Cruz Roja, UNICEF, Bomberos Ayudan, Comedor de
los Pobres and Fundación Red Madre are some of the
beneficiaries of these significant donations that have
helped to improve the lives of those experiencing
hardship.
Another of the important alliances we maintain is with
the AECC (Spanish Association Against Cancer), to
which we provide ongoing support through various
races, golf tournaments, sports events and fashion
shows that are organised in various Spanish cities in
order to raise funds and awareness in relation to the
association’s goals. Furthermore, in 2014 we played
a special role in promoting the Race Against Breast
Cancer held in Madrid in order to raise funds for the
fight against the disease. The façades of our flagship
stores were lit up in pink and El Corte Inglés and
Hipercor offered its customers gifts. We were joined
by some of the most prestigious fashion, lingerie and
corsetry, accessories, cosmetics and toy firms, who
donated a portion of the funds raised to the fight
against cancer.
80
Our lines of action
Social activities
We are aware of people’s needs, especially during times
of great hardship. Therefore, we channel our assistance
and cooperation through various NGOs and institutions,
such as Cáritas, Cruz Roja or Aldeas Infantiles
Furthermore, we are particularly aware individuals with
disabilities of all kinds and, accordingly, we promote
activities held by organisations such as Fundación
También (sport for the disabled), Fundación Bobath (brain
damage) or Fundación MasNatur (respite family care for
people with disabilities). Furthermore, we collaborate
with Fundación Centac to develop technological aids for
people with disabilities.
Ski adapted for disabled people.
Development aid
Education
We promote various initiatives and projects with
organisations with a presence in Spain and abroad
with which we have a long-standing relationship. These
include Acción contra el Hambre, Fundación Crecer
Jugando, Plan España, Mano a Mano, etc. In 2014 we
also participated alongside Doctors Without Borders
in the Stop Ebola campaign, the aim of which was to
raise funds to contain the disease. Funds raised by
employees and customers were donated in addition to
the Company’s contribution.
A sound education is the basis for a society’s future
development and, therefore, many of our actions are
aimed at educating and training children and adults. We
promote school competitions in cooperation with public
institutions, we sponsor cultural and sport activities at
halls of residence and we encourage other initiatives
designed to foster educational development. In 2014
we also sponsored the Female Leadership and Talent
Management Conference.
Culture
We have promoted cultural activities since the
Company’s very beginnings, encompassing initiatives
relating to literature, theatre, music, art, cinema,
photography and history. To this end, in addition to
the various activities held at our shopping centres, we
cooperate with institutions such as the Prado Museum
(Madrid), Bilbao Fine Arts Museum, the Baluarte
Auditorium and Conference Centre in Pamplona, Es
Baluard Museum in Palma de Mallorca, San Carlos
Academy of Fine Arts in Valencia, Teatro Real in Madrid
and the Olympic and Sports Museum Juan Antonio
Samaranch (Barcelona), among others.
Sport
We believe that sport promotes teamwork, interaction
with other people and the spirit of personal achievement;
this is why many of our activities focus on encouraging
and fostering the performance of sports activities. We
sponsor the ADO and ADOP programmes for Olympic
and Paralympic sportsmen and women, and organise
core activities in a wide range of disciplines such as fun
runs and charity paddle tennis tournaments.
Social dimension 81
Ramón Areces Foundation
Volunteering actions
Grupo de Empresas El Corte Inglés (GECI) is a
voluntary association which aims to foster an open
relationship between all employees. With 12,685
members and more than 51,200 beneficiaries, it is
dedicated to promoting the participation of families
in recreational activities throughout the year, such
as youth camps, sports events or national and
international trips. More than 70,100 people have
participated in all the activities.
It also collaborates with various social organisations
in food drives; as well as in the supply of food to soup
kitchens to help groups at risk of social exclusion.
Furthermore, it collaborates in toy drives for donations
to various associations
.
Sustainable agriculture project in Mozambique.
Joint solidarity
The solidarity of our employees has been demonstrated
in the various campaigns implemented by the Company.
As a result of World Rare Disease Day on 28 February,
El Corte Inglés supported an initiative of the Spanish
Federation of Rare Diseases (Feder) on social networks
whereby each participant took a selfie with a green
lightning bolt painted underneath their eye to upload it
to their Twitter, Facebook or Instagram accounts. The El
Corte Inglés Group decided to join this campaign and
encouraged its employees, through its internal channels
(intranet, corporate portal, etc.) to support the cause
using the hashtag #hazlasvisiblesECI (“make them visible
ECI”). Thanks to the solidarity of all the Company’s
employees, more than 6 million people were exposed to
the cause.
82
In 2014 the Foundation had 64
post-graduate and post-doctoral
interns at the world’s leading research
centres and universities, mainly
in Europe and the US.
Although the Foundation publishes its own Activity
Report, on account of its broad social reach, its activities
are also mentioned in this report. Information can also
be found on its website www.fundacionareces.es.
Involvement in humanitarian causes is the
association’s priority, which earmarks a portion of the
membership fee for these activities, and makes direct
economic contributions.
With Caritas Española, the association participates
in the “Promotion of Sustainable Agriculture in
Mozambique” project for families in situations of
extreme poverty, placing emphasis on child nutrition in
Maputo and Inhambane.
Since its creation in 1976 by Ramón Areces Rodríguez,
the Ramón Areces Foundation has aimed to foster
scientific and technological research, education
and the dissemination of knowledge and culture in
general. It carries on its activity throughout Spain in
the fields of life and material sciences, social sciences
and humanities and awards aid and grants to support
its aims.
Another of the activities carried out in 2014 was the
International Day for the Elimination of Gender Violence.
Around 50,000 El Corte Inglés employees personified
the Company’s commitment to this cause by sporting
badges throughout the day bearing the slogan “There
is a way out of gender violence”. With this initiative,
the Company and its employees demonstrated their
awareness of, and support for, victims of gender
violence. The El Corte Inglés Group’s policy in this
connection is to collaborate with private and public
institutions.
In order to contribute to the consolidation of
robust scientific and technological foundations in
Spain and provide support to young researchers,
the Foundation holds National Competitions for
Research Grants in the areas of life and material
sciences, and social sciences. The life science projects
approved in 2014 related to rare or uncommon
diseases, cancer, food safety, renewable energies,
high-temperature superconductivity materials,
exosomes and interactomes. In the social sciences
area, research projects addressed policies on
employment, health, innovation incentives and
education, as well as topics relating to economic
history and commercial distribution. In 2014 a total
of 128 projects were underway in which 643 Spanish
researchers were involved.
One of the institution’s priorities is the training of
human capital, offering new opportunities to young
graduates and PhD students. This line of action is
based around its own programme of grants for study
abroad and support for the grant programmes of
other institutions. In 2014 the Foundation had 64
post-graduate and post-doctoral interns at the world’s
leading research centres and universities, mainly in
Europe and the US.
The cardiologist Valentín Fuster during his conference about Aging,
Society and Health.
The pupils of the Expert Course in Commercial Distribution that
worked in the El Corte Inglés’ internship programs, close to members
of the Fundación Ramón Areces patronage and management, and
members of the company.
Social dimension 83
Funds were also provided for grants in the
postgraduate course in molecular biosciences at
Universidad Autónoma de Madrid; the Fulbright
Commission to further studies in the United States,
in conjunction with El Corte Inglés; the grant scheme
for Spanish lecturers and readers at universities, and
grants for the official Master in Accounting, Auditing
and their Impact on the Capital Markets taught jointly
by Universidad Autónoma de Madrid and Universidad
de Alcalá de Henares.
In its sixth year, the Ramón Areces Foundation Chair
of Commercial Distribution has consolidated its
position as an academic benchmark of quality. The
Chair teaches the Expert Course which falls with the
category of the Own Degrees provided by Universidad
de Oviedo as part of its post-graduate education
programme. In the research area, the Chair publishes
a Collection of Working Documents with the aim
of fostering a basic research programme relating to
Commercial Distribution and Marketing which is
applied and committed to the reality of the Spanish
and international economies.
In 2014 the Ramón Areces Foundation
organised 82 own events among
conferences, seminars, master
classes, congresses, etc.
With respect to the dissemination of knowledge,
in 2014 the Ramón Areces Foundation organised
82 events (conferences, seminars, master classes,
congresses, etc.) which dealt with transversal
subjects such as ageing, financial education, the
energy transition in Europe and climate change; the
application of Big Data to business management,
innovation policies; vaccines against tuberculosis;
uncommon diseases, type 2 diabetes or new
technologies in medicine. 475 experts took part as
speakers (245 from Spain and 230 from abroad) and
13,530 people attended the events.
Within the context of promoting Spanish science, for
the second consecutive year the Foundation increased
its collaboration with the Communities of Spanish
Scientists based abroad. The institution provides its
logistical and economic support to the communities
in the UK (CERU), the Federal Republic of Germany
(CERFA) and the US (ECUSA)
In addition to its own programmes, the Foundation
collaborates with prestigious universities and scientific
and cultural institutions from Spain and around the
world. In 2014 collaboration agreements were entered
into with Harvard University and Massachusetts
Institute of Technology (MIT) and the Foundation was
included in the Consejo de Fundaciones por la Ciencia
(Spanish Council of Science Foundations) fostered by
the Spanish Foundation for Science and Technology.
84
Responsabilidad Social Empresarial
Social dimension 85
© 2015 El Corte Inglés, S.A.
Hermosilla, 112.
28009 Madrid
www.elcorteingles.es

Operating Report - El Corte Inglés

Transcription

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