FUTURE PLANS
The company faces the future short and medium term with a business volume diminished by the crisis and the emergence of new sales channels.
The death of its president for 25 years, Isidoro Alvarez, could accelerate the modernization of the company, with the help of the new dome.
The new team will have an impact on policy innovation without abandoning tradition that has led to where.
Future challenges Seat new management team:
As designed the former president, Gimeno Dimas is the new president of El Corte Inglés. The immediate aim, therefore, will settle this power and achieve a certain complicity with shareholders. In the market analyst Javier Santacruz opinion, "this is a very rare family business, which within the council were not sitting both families but people trusted by Isidoro Álvarez. Hence, the entry of Pizarro needs consolidation," explains . In a similar vein Victoria Tower, responsible for product analysis Self Bank is expressed, for whom the bottom line is "follow the path of success of the previous president."
Sanitation of accounts: One of the most urgent priorities will be clean and contain the debt of the company, estimated at more than 4,000 million euros (and concentrated in three main creditors: Santander, BBVA and La Caixa). After several years with a declining business, El Corte Ingles in late August provided a (corresponding to fiscal year 2013) annual accounts reflecting the first increase in benefits since the start of the crisis. "Business has been better after three very bad years, in part because the group got rid of 51% of Financial, which meant millions in annual losses from rising defaults. But what really is there to change the cash flow (cash flow, ie the daily balance of money in and out), which is currently negative, "says Javier Santacruz. In his opinion, one of the main keys again will be to reach a positive cash flow, as this will not increase the debt and not depend more creditors. How accounts are arranged? "Among
The death of its president for 25 years, Isidoro Alvarez, could accelerate the modernization of the company, with the help of the new dome.
The new team will have an impact on policy innovation without abandoning tradition that has led to where.
Future challenges Seat new management team:
As designed the former president, Gimeno Dimas is the new president of El Corte Inglés. The immediate aim, therefore, will settle this power and achieve a certain complicity with shareholders. In the market analyst Javier Santacruz opinion, "this is a very rare family business, which within the council were not sitting both families but people trusted by Isidoro Álvarez. Hence, the entry of Pizarro needs consolidation," explains . In a similar vein Victoria Tower, responsible for product analysis Self Bank is expressed, for whom the bottom line is "follow the path of success of the previous president."
Sanitation of accounts: One of the most urgent priorities will be clean and contain the debt of the company, estimated at more than 4,000 million euros (and concentrated in three main creditors: Santander, BBVA and La Caixa). After several years with a declining business, El Corte Ingles in late August provided a (corresponding to fiscal year 2013) annual accounts reflecting the first increase in benefits since the start of the crisis. "Business has been better after three very bad years, in part because the group got rid of 51% of Financial, which meant millions in annual losses from rising defaults. But what really is there to change the cash flow (cash flow, ie the daily balance of money in and out), which is currently negative, "says Javier Santacruz. In his opinion, one of the main keys again will be to reach a positive cash flow, as this will not increase the debt and not depend more creditors. How accounts are arranged? "Among