Larger retail stores including Ikea and El Corte Inglés in Spain see sales increase despite inflation

The 2022 results for members were 14.5 per cent up, outstripping smaller shop brands, said business association

Clara Alba

Madrid

Friday, 13 October 2023, 17:13

The retail brands with the larger stores in Spain are recording strong sales and showing resistance to any downturn in turnover caused by inflation.

Anged, an association that represents stores with larger surface areas, which includes El Corte Inglés, Eroski, Carrefour, Ikea, Fnac and Leroy Merlin among its members, has said the 2022 results for members were 14.5 per cent up, outstripping smaller shop brands.

Representatives from this sector of the retail industry said the improvement was the result of, "companies' efforts to adapt what they sell, channels to market and operation to permanent changes in the market".

Firms that are members of Anged had 229,002 direct employees in 2022, 2.5% fewer than 2012. The group is blaming more restrictive labour laws for the drop.

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