El Corte Inglés sold 47 non-strategic Supercor stores in Spain to Carrefour for 60 million euros.

The company, headed by Marta Álvarez, will retain ownership of the properties, and the transfer agreement establishes obligations to maintain employment.

Food retail

Currently, the food retail division of the department store group has different formats: El Corte Inglés supermarkets, Hipercor, Supercor, Sánchez Romero, and Club del Gourmet stores. These are joined by more than 550 stores operating at Repsol service stations under the Supercor Stop & Go brand.

The goal of El Corte Inglés is to develop a network of differentiated food establishments, with a "wide and high-quality commercial offer". The first step in this project was the opening, last April, of the first El Corte Inglés supermarket, located in Sotogrande, Cádiz.

The group also plans to open new Supercor brand supermarkets, ranging in size from 800 to 1.500 square meters.

Strategic communities

In turn, Carrefour indicated that the scope of the transaction includes supermarkets and convenience stores located especially in strategic communities, such as Madrid, Catalonia, Andalusia, and Valencia.

The acquired stores will be converted to the Carrefour Market, Carrefour Express, and Supeco brands, with which the company reaffirms its commitment to the supermarket format. The French brand already incorporated 36 Eroski hypermarkets and 127 Supersol stores in 2020.

The transaction is subject to customary conditions and is expected to be completed before the end of the first half of 2024.