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List of department stores
El Corte Inglés
El Corte Inglés is Spain's largest department store chain. It was founded in 1940 by Ramón Areces, who had previously worked in a Madrid tailor shop on the calle Preciados Upon Areces' death in 1989 Isidoro Álvarez was named his successor and quickly became one of the most powerful men in Spain. In 1995 El Corte Inglés bought out its only serious competitor, Galerías Preciados. Offshoots of the El Corte Inglés empire include Viajes El Corte Inglés (travel agency), Hipercor (a chain of hypermarkets), Opencor (upmarket convenience stores) Supercor (supermarkets), Informática El Corte Inglés (IT services) and Sfera (a Zara- style clothes, accessories and beauty product chain). In 2001 a store was opened in Lisbon, Portugal. Recently, a store opened in Vila Nova de Gaia, Portugal, and there are plans to open one in Italy. One of the reasons of the success of El Corte Inglés is its money-back guarantee policy: unsatisfied customers can usually return their faulty goods or unwanted presents for a cash refund. It is seen by many as a Spanish culture symbol. Most stores dislay information about locations throughout the country, and are known for catering to local tastes and events. 
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