benefits

That Oracle speaks out on the soap opera between NVIDIA and OpenAI is a bad sign. That it will not have benefits until 2029, too

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Oracle counted in a tweet that the agreement between NVIDIA and OpenAI has “zero impact” on your financial relationships with the company that owns ChatGPT. This is more complicated than it seems, because the AI ​​business could end up collapsing if a large company like NVIDIA or Oracle shows even a hint of doubt towards OpenAI. The latest statements by Jensen Huang, CEO of NVIDIA, have made the market nervous, although Oracle’s path is not very encouraging either. Why is it relevant? Oracle just announced that will raise between 45,000 and 50,000 million of dollars this year through debt and equity issuance to build cloud infrastructure for its large AI clients. Among them, OpenAI stands out with a contract of 300,000 million of dollars for five years that starts in 2028. The problem is that OpenAI is not profitable right now, and Oracle needs OpenAI to raise capital so that it can pay it. It is a circular financing circuit where everyone depends on everyone Keep signing checks. The numbers don’t add up yet. The contract with OpenAI involves about $60 billion annually starting in 2028. To fulfill it, Oracle must buy approximately 400,000 chips NVIDIA’s GB200, with an estimated cost of $40 billion just for its flagship data center in Abilene, Texas. Meanwhile, OpenAI’s total revenue in 2025 was around $13 billion, according to Bloomberg. Oracle is betting its bottom line that a company that currently burns more cash than it generates can pay bills equal to five times its current annual revenue. The alarm signals. In January, investors accused Oracle of hiding the need for more debt to finance its AI infrastructure, according to Reuters. Oracle’s debt-to-equity ratio is at 6x, and credit default swaps reached levels not seen since the 2008 financial crisis in December, according to point Bloomberg. In addition to all this obstacle, Oracle’s action has fallen 50% from its September peak, when it announced precisely the agreement with OpenAIerasing some $460 billion in market capitalization. ANDnegative n until 2029. Developing data centers for AI has pushed Oracle’s free cash flow into negative territory, where it is expected to remain until 2030, according to data compiled by Bloomberg. Jefferies esteem that the company will need to raise more funds in 2027 and subsequent years, since cash flow will not return to positive until 2029. Oracle plans to raise 50 billion: half through equity, with convertible preferred securities and a share sale program of up to 20 billion, and the other half through a single bond issue in early 2026. Between the lines. What really worries the market is the structure of mutual dependence. NVIDIA funds OpenAI. OpenAI pays Oracle. Oracle buys chips from NVIDIA. Everyone’s income growth depends on everyone else continuing to write checks. When Jensen Huang, CEO of NVIDIA, declared to journalists that the 100 billion agreement with OpenAI “was never a commitment” and that they would invest “step by step”, Oracle had to come out with that tweet to calm the waters. And that tweet is precisely the type of communication that worries investors. Cover image | IEEE Awards, Hartmann Studios, Wikimedia Commons In Xataka | The CEO of Airbnb is clear that there are companies with too many meetings: his trick is to follow Jony Ive’s philosophy

Your employees are going to mobilize to claim part of those benefits

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Black Friday has become one of the most important sales days for global trade, and a unique opportunity for employees to give visibility to your claims pressing with mobilizations on one of the days with the highest sales volume of the year. On November 28, coinciding with the start of Black Friday, unions and representatives of the staff that make up the Inditex group throughout Europe, have called for different coordinated mobilizations in front of emblematic stores of the company in countries such as Germany, Belgium, Luxembourg, Portugal, France, Italy and Spain. These actions aim to take advantage of the moment of maximum commercial visibility to put the distribution of profits and the recovery of an extraordinary bonus linked to the group’s economic results at the center of the debate. Non-strike mobilizations. The unions and representatives of the Inditex European Works Council propose these mobilizations as another step after years of putting on the table the need for economic recognition for the collective efforts of the workforce. In their communications They point out that they have tried to sit down and negotiate with Inditex through other means, such as letters to management and requests at each meeting, but the company has not responded to their demands. As confirmed by Rosa Galán, representative of CCOO at Inditex, it is important to point out that this is not a strike, but rather protest concentrations at the doors of the main stores in the center of large cities to give visibility to their demands that come “after exhausting other avenues” and as one more step in their efforts to sit down to negotiate. They ask for the return of a bonus that disappeared. In Galán’s words, until 2020, Inditex employees throughout Europe received a variable bonus linked to the annual company profitsas a way of recognizing the contribution of the staff to the good financial results of the group. This incentive was closely linked to strong sales campaigns, such as Black Friday for its great impactso that a part of the commercial success also reached directly into the pockets of those who run the stores and support the day-to-day running of the company. However, after the pandemic that bonus was eliminated and has not been implemented again until this year, when has done so by limiting its application to the managers who form your shareholders meeting. A pat is not enough. Despite the good words and recognition that the board of directors dedicates to the group’s global workforce, the Inditex European Works Committee wants this recognition to materialize in the recovery of that bonus linked to profits in a context of good results financial like the current one. “We are asking once again that a company that has enormous profits, which are the result of the work of its staff, distribute those profits fairly,” stated Galan to Reuters. A context of growth. In the last exercises, the textile empire founded by Amancio Ortega has achieved record profits. In fiscal year 2024, closed on January 31, 2025, the brand recorded 5,866 million euros of net profit. This represents a growth of 9% compared to the previous year, thus adding its third consecutive year of historical results. The consolidated data of the first quarter of 2025 mark a continuing trend with an increase in net profit of 0.8%, up to 2,791 million euros. Inditex has not responded to our requests for information, although declared to the EFE news agency that “for the moment” is not going to issue any comment on the union announcement. In Xataka | A few weeks ago Amancio Ortega collected 1,552 million from Inditex: he just invested them in the second largest purchase in its history Image | Unsplash (Praswin Prakashan)

He has just had his first stumbling and his benefits have collapsed 30%

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Byd just live His first stumble In more than three years. The Chinese electric car giant, who managed to dethrone Tesla as the largest world manufacturer of electric vehicles, has seen how its benefits 30% collapse In the second quarter of 2025. The Batacazo has made the alarms jump on Wall Street and reflects the devastating effects of the price war that the Chinese market ravages. His first stumble. The byd numbers between April and June have been to forget. The net profit fell to 6,400 million yuan (about 890 million euros), compared to 9,100 million of the same period of the previous year. It is the first quarterly fall in more than three years for a company that It seemed unstoppable. His actions in Hong Kong 8% collapsed After knowing the results. The price war charges its toll. Behind this collapse is the brutal competition in China, where local brands have engaged in A spiral of discounts unprecedented to gain market share. As recognized Byd itself in its results report: “The increase in price competition and the frequent appearance of excessive marketing” have exercised “an adverse impact on industry development.” The average prices of cars in China have fallen 19% in the last two years, standing around 165,000 yuan (about 22,900 euros). Symptoms that worry. Beyond the benefits, byd Shows financial voltage signs. Its working capital deficit has expanded up to 122.7 billion yuan at the end of June, compared to 95,800 million March. In addition, its asset debt ratio has risen to 71.1%. The company has even been forced to slow down production and delay capacity expansions in its Chinese factories. An annual pending objective. Byd had marked as a goal to sell 5.5 million cars this year globally, but at the end of July he had only managed to place 2.49 million unitsjust 45% of the objective. Analysts such as those of Nomura have reduced their forecasts between 5 and 5.2 million vehicles, while Rosalie Chen, from the firm Third Bridge, qualifies of “pessimistic” the possibilities that the Chinese brand meets its ambitious objectives. Europe as salvation table. The only positive note comes from abroad, where Byd is gaining ground to sets established as Tesla. In July he registered More than 13,000 new registrations In Europe, a growth of 225% year -on -yearaccording to the European Association of Automobile Manufacturers. This international thrust has allowed the company to continue to grow 14% to 200.9 billion yuan, despite the collapse of benefits.

Wetaca doubles benefits thanks to the classic digital world trick: hooking to a subscription

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602,000 euros of net profit in 2024, twice as much as the previous year. Wetaca has achieved what seemed impossible in the competitive world of food at home: grow in sales (23%) and improve margins at the same time, according to their 2024 accounts that he collects Five days. The turn. The company, founded by former Masterchef Efrén Álvarez consistent, has ceased to be a company that sells Tápers to become one that you subscribe. The automatic subscription model, launched in 2021generate weekly orders that are sent unless the client modifies or cancels them. You no longer have to remember to ask: the menus arrive alone. This apparently subtle change has changed the business. The recurrence has become the Holy Grail of Wetaca, which has invested more than 1.1 million euros in marketing to capture subscribers, twice as much as in 2023. In perspective. The prepared food sector lives a paradox: Dark Kitchens They left their best moment behind and the aggregators of Delivery They have a complicated profitability, but Wetaca is thriving with a model that seemed to have a difficult fit with the current offer. Centralized cuisine in Villaverde. Tápers that are sent cold. Menus that last a week in the fridge. Model that asks for a conscious and planned purchase, not impulsive. The difference is in the economic equation. Without RIDERS No commissions to platforms, without the pressure of delivering in half an hour. Only efficient production and customers that automatically repeat each week. And now what. With 94 employees and a debt of 5.2 million (1.5 in the short term), Wetaca will need subscriptions to continue flowing. The commitment to new machinery seeks precisely that: producing more maintaining the margins that have cost them so much to achieve. Between bambalins. The founders Álvarez and Casal maintain 71% of the company, while Cabiedes & Partners control almost 20%. This concentrated shareholding structure has allowed them to bet on the long term instead of pursuing growth at any price, the curse of so many delivery startups. The subscription model not only allows them to sell more: that model is a prediction machine demand, optimize production and reduce waste. When you know how many tápers you will cook every week, everything becomes more efficient. In Xataka | Glovo officially abandons the model that made her famous: all her riders will be used before the end of the year Outstanding image | Wetaca

Spain has just changed the fiber optic rules after 25 years. The decision benefits a company: Telefónica

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The National Markets and Competition Commission He has decided to completely free Telefónica of its obligation to share the fiber optic network with other operators. A measure that ends almost three decades of state supervision initiated after the privatization of 1999. Why is it important. Telefónica thus recovers the total autonomy about its infrastructure of 30.8 million houses covered. You can freely decide who your network shares, at what price and under what conditions, without prior regulatory supervision. The context. Since the privatization of Telefónica at the end of the last century, the State imposed the obligation to rent its network to competitors to promote competition. What began with Gigaadsl in 1999 evolved until NEBA in 2012forcing the operator to initially share 100% of its network, reduced to 25% since 2016. What has happened. The CNMC Council approved on July 29 eliminated these restrictions for two key reasons: The Masorange fusion has created a competitor that surpasses Telefónica in number of clients. The broadband market has greater competition with new independent wholesalers and more fiber deployments. In detail. The resolution will enter into force in February 2026, giving six months to the operators that NEBA use to renegotiate agreements or migrate customers to other networks. Telefónica will keep only The framework obligation of renting physical infrastructure such as arches and pipes. And now what. On the one hand, Telefónica will gain commercial agility by not needing prior approval of the CNMC for new offers or technical changes. On the other hand, its competitors will lose the advantage of knowing in advance the strategies of the operator, which until now had to pass the regulatory “replicability” filter. The big question. How will you use this new freedom to compete. The operator can now launch offers without notifying their rivals or waiting for regulatory approval, just when it must present their new strategy – that of The era with Murtra in command– Before ending 2025. Outstanding image | Telefónica In Xataka | 100 years after his birth, Telefónica faces the greatest existential dilemma in its history: what wants to be older

OpenAI is already generating GDP size benefits from a small country. Follow light years of being profitable

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Winning 12,000 million dollars a year seems somewhat prodigious for any company, but not when that company is called Openai. The evolution of income is being remarkablewithout a doubt, but both her and others – and here Anthropic is another good example – something serious happens to them: that they continue to spend more than they win. 12,000 million for OpenAi in 2025. As indicated In The Informationa new estimate that Openai’s “annualized” revenues will be 12,000 million dollars in 2025. The figure is a projection, but it is significant taking into account that in 2024 the estimated revenues were according to various sources of 3.7 billion dollars, although In Reuters They talked about the fact that they had actually reached 5.5 billion dollars. And 4,000 for Anthropic. The same media also recently indicated how the estimate in the case of one of its great rivals, Anthropic, has also risen and now It is 4,000 million dollars. Just two months ago that figure had already been checked and was 3,000 million, which means one thing: both are growing in number of subscribers. 700 million “Chatgpteros”. Another of the data to which the information article points out refers to the number of weekly active users. According to their data, 700 million people use chatgpt at some point in the week, which marks a unique milestone for the company. It is true that the vast majority of them are users of the free version, but that base is what allows part of those who use the service for free They end up pointing out to any of the chatgpt subscription plans. Income growth is being unusual in OpenAi and Anthropic, but both companies are spending absolute fortunes to end up being profitable. Source: Reddit. It will win 12,000 million, how much will it spend? In Reuters indicate that the internal estimates of the company also point to higher expenses. According to those projections, OpenAI will spend 8,000 million dollars, but that figure is dentra on direct operational expenses. There are many more associated expenses – investments, infrastructure, other financial obligations – and that makes OpenAi not profitable for now. We do not have estimated spending data for Anthropic, but it has an identical problem: Spend more than you earn. Spectacular, but. Although this growth in income is certainly extraordinary, it must be taken into account that to achieve this, these companies carry “Burning money” for years. The investment rounds that Anthropic and especially OpenAi have captured have allowed them to have a lot of room for maneuver to lose huge amounts of money without that at the moment that worries too much. And they will continue to spend as possess. Especially in the case of Openai, which thanks to SoftBank support It has great plans that will make it necessary to spend true fortunes. They have done it to Buy the Jony Ive design study for 6,500 million dollars, but above all they will do it with the project Stargatewhich still seems like very difficult to complete. But no profitability until 2029. Those responsible for OpenAi do not seem too worried, and we knew what the company’s financial road map was known weeks. They will continue losing money until 2029when supposedly – all is a free estimate, not a promise – will earn 100,000 million dollars. It will be then when the company will begin to be really profitable, but again, All this is a promise (or maybe a hope). It could not perfectly be fulfilled … and even ending up falling short. Image | das | Fortune Brainstorm Tech In Xataka | Chatgpt takes the step to conquer students and teachers: their new mode does not give the answer, I build it with you

Records of benefits and layout records

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Microsoft has fired 15,000 employees in what we have been for the year, a figure that adds to 10,000 of 2023 and 3,500 of 2024. It has done it when its price exceeds 500 dollars for the first time in its history, and Between income and benefits records. Why is it important. Satya Nadella, the CEO, has tried to explain this contradiction in a Memo internal in which he admits the “apparent incongruity” of saying goodbye while the company Prospera. His words speak of an industry that no longer works with the rules of before. The context. The current Microsoft lives in a duality: Recurring job cuts. Massive and growing investments in AI infrastructure. In addition, its total template remains stable because it is hiring specialized talent in AI, so that, in figures, it compensates for the layoffs of other profiles. Among its most outstanding hiring are The 24 engineers from Google Deepmind In the last semester. The current situation. “This is the enigma of success in an industry without franchise value,” Nadella wrote to his employees. The CEO admits that these decisions “weigh a lot” and that they affect “colleagues, companions and friends.” The company has to maintain its usual businesses while invents new categories and models. This is what Nadella calls “unlearn and learn” at the same time. Between the lines. Nadella’s note is pure internal damage control. Employees and former employees are throwing pests on the deterioration of the work environment that CEO himself had created for a decade. Tom Warren, who has been covering Microsoft for two decades, published An extensive report in The Verge in which he talked about this. The brutal investment in data centers and ia chips Forces Microsoft to cut operating expenses. The account is easy: more capital investment means less money for salaries. It is the equation that marks the race to master the AI economy. And the result goes through Less bosses and more code lines. At stake. Microsoft is changing its identity: of “software factory” to “intelligence motor”. It is no longer about creating tools for specific jobs as until now, but getting anyone to make their own tools. Nadella imagines a world where “8,000 million people can invoke a researcher, an analyst or a programmer.” It is the vision that justifies this transformation. Losers: Employees who do not fit in that new strategy. Winners: Possible signings of the AI field that arrive from companies such as Google or Meta. The result is a template similar in number, but that is changing profiles. New era. The technology industry, until recently synonymous with full employment, has almost 100,000 layoffs in what we have been. Microsoft leads that ranking. But the phenomenon goes beyond Microsoft. Technology are discovering that triumphing in the AI era does not guarantee work tranquility. On the contrary: it requires constantly reinventing itself, much more than before, and makes the new normality disruption. Deepen. Nadella has compared the current moment with the PC revolution in the 90s. It promises its employees that they will remember this time as “when I learned the most, when I had the most impact, when I was part of something that changed everything.” History will tell if this transformation is worth it for human cost. At the moment, Microsoft is proof that even success can hurt when the rules change. In Xataka | Buying studies from Mansalva has taken an invoice to Xbox. The test: its last wave of layoffs, closures and cancellations Outstanding image | Xataka, Microsoft

The first processor without a single silicon atom is ready. It is a prototype and still its benefits are a dream

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Integrated circuits of 2 nm They will disembark in the market in style for 2025. Users know that nanometers have lost a good part of their usefulness, and that, in reality, They represent a category of semiconductors. In fact, they no longer faithfully reflect the length of logical doors or other physical parameter, such as the distance between transistors. However, the very quick development of the chips reminds us that every step we take place a little closer of the physical limit of silicon technologyalthough, in reality, this challenge is not new. The main manufacturers of integrated circuits and numerous research groups linked to some of the most important universities on the planet have been working on a solution to this challenge. Decades, even. There are currently several open research lines, and possibly the solution will require betting on one of them, but it is even more likely that the way to follow invites us to allow several of the proposals to be working on. The first 2D computer in the world is here A team of researchers from the University of Pennsylvania (USA) has published in Nature An interesting article in which he explains the procedure that has followed to manufacture the first functional CMOS processor using two -dimensional materials (2D) of a single thick atom. The really revolutionary thing is that they have used molybdenum disulfide and tungsten dyslelenex with the purpose of producing more than 2,000 transistors capable of executing logical operations. They have not used a single silicon atom. “We have first demonstrated a CMOS processor built completely with 2D materials” However, it is also important that we do not overlook that the materials they have used, which, as I have mentioned, have only one thick atom, maintain their properties at that scaleunlike silicon. The leader of this project, Professor Saptarshi Das, has pointed out that “silicon has promoted notable advances in electronics for decades by allowing continuous miniaturization of field effect transistors (FET or Field-Effect Transistors) “. “However, as silicon devices miniaturize their performance begins to degrade. 2D materials, however, maintain exceptional electronic properties at the atomic level, placing a promising path before us,” Explain das. “We have demonstrated for the first time a CMOS processor built completely with 2D materials combining molybdenum disulfide transistors and tungsten tungsten dysleeniuro cultivated in large areas.” All this sounds very good, but there is no doubt that for users the most relevant is to know what impact this technology will have in our experience if it becomes popular. “Our 2D CMOS processor operates with low power voltages, Minimum energy consumption and can execute simple logical operations at frequencies up to 25 kHz “, He has specified Ghoshone of those responsible for the project. This is the heart of the matter. We are only at the dawn of the technology known beyond silicon, but presumably the chips with molybdenum disulfide transistors and tungsten dislendiuro will allow the manufacture of much faster and more compact computers than the current ones, as well as perceptibly more efficient from an energy point of view. More information | Nature In Xataka | Intel and TSMC lead the revolution of photonic chips. His problem is that China has just done fully in this war

France and Italy are passing over Renfe. Your income and benefits are huge thanks to a liberalization to the letter

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Forced by the European Union in a process that began in the 90s and that ended up consolidating in 2005, Renfe and Adif separated their paths. 20 years ago the separation that divided the management of trains and passengers (Renfe competition) of infrastructure maintenance (Adif competition), with the aim of fulfilling European obligations to liberalize the rail transport of people and goods on Spanish soil. That liberalization of passenger transport did not have consolidated until 2021 when Ouigo started operating On Spanish roads. Shortly after more competition with Iro would arrive. Along the way, Renfe launched his avlohigh speed Low Cost of the Spanish company. Since then, the four companies (and their three operators) They have fought their particular battle to conquer the public … inside and outside Spain. And it is where, everything indicates, France and Italy are passing over Renfe. France, far ahead of any competitor The data of the unequal result that Spain is obtaining in front of the Italian FS Italiane and, above all, the French SNCF brings them electionomista.eswhere they echo the income and, above all, the financial result they are obtaining and those that are noticed in the future. Analyzing the financial results presented by companies, the sum of Renfe and Adif (Then we will see why this is important) have generated benefits of 280.15 million euros in 2024. However, they do not compensate for the losses of almost 353 million euros they signed in 2023. Among the big European companies, Spain and France are the only ones that have had benefits in 2024 but it must be taken into account that the figure of FS Italiane in 2023 was extraordinarily good. And it is that its 208 million euros of losses are well compensated with the 1,100 million euros that obtained as a benefit in 2023. That is, between 2023 and 2024, Renfe and Adif lost around 73 million euros. In that period, Italy won almost 900 million euros with its company for the exploitation of rail services. Although the true winner is the French SNCF. The 1,310 million euros that they won in 2023 fell short if we take as a reference 2024 when the company accumulated a benefit of 1,557 million euros. The gap It can be even greater if we take into account the volume of income. Spain adds with Renfe and Adif 5,526.45 million euros. Compared to any other country of competition is a very small figure. Germany added with DB 26,211 million euros in revenue (although it is by far the country that loses more money, with 1.8 billion spatched in 2024). Italy stayed at 16,529 million euros but, as we have seen, the balance in the last two exercises is very positive. And France breaks the graph with 43,354 million euros of income. A liberalization to the letter that is decisive Although European liberalization was aimed at being talking about companies here and not countries … the truth is that we do not have to. As we said, in Spain Renfe and Adif took separate roads in 2005. We have already seen, a company in charge of infrastructure management and another of trains and trips because, in theory, they could not be the same company to guarantee competition. However, in Germany, France and Italy Companies that manage each type of business They have stayed together in the same group Business, which facilitates operations within the same country and serves as a barrier to entry to foreign competitors. A way of acting that, in fact, has been criticized by the European Union but has remained standing despite everything. Among those investigations is the one that The European Commission opened To determine if the state aid received by SNCF in 2007 and 2019 comply with the legislation. The verdicts are important because Spain (which did comply by separating Renfe and Adif from root) has accused France and SNCF from dumping. According to the government, it is the French aid that allows Ouigo to operate in Spain despite collecting losses what would reaffirm his complaint against Europe. From ouigo they have reiterated that These results are the usual in a company that is entering a new market. This way of working has also been key to putting all possible brakes at the Spanish entrance to the French market. Renfe assures that from the Gallic country The deadlines have been dilated as possible And they have squeezed the regulations to certify that the Talgo trains with which they want to operate are not valid to reach Paris, where the great business of the French railways is located. The obstacles are so many that Renfe, as he collects The avant -gardehe would be evaluating the neighboring country. Paloma Baena, general director of Renfe Operadora Global Strategy, arrived at demand in the French Senate equal treatment and pointed out that they did not expect to function normally until 2029 if everything followed. In 2024, Renfe demanded To the French transport regulator the same and SNCF took a pull of ears by its compatriots. However, nothing has changed. In Germany, Italy and France, the operators of services and railway lines are working under the same business group. This, according to electionomista.esfacilitates its expansion to other areas related to public transport and other countries. Keolis is a SNCF subsidiary and receives income abroad for services in urban and interurban transport. Eurostar squeeze the European monopoly. At this time, 38% of SNCF income They arrive from abroad. France plans to take ouigo to Italy, plan to operate in Canada and have a high speed line in Morocco. Italy, on the other hand, has managed to enter the Lyon-Paris route and stay in the Milan-París. He intends to connect the gala capital with London and Brussels while his expansion for Germany, in Munich and Berlin is scheduled. In addition, it already has services in Spain, Germany, Greece, the Netherlands and operates four subway lines in Riad (Saudi Arabia). For its part, Spain barely receives income that … Read more

Mercadona has fired its benefits but has also closed stores for the first time in years. The reason: the “stores 8”

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For the first time in decades, Mercadona reduced its physical network while firing benefits 37% to 1,384 million euros. No other Spanish chain approaches that figure. The paradox has a name: “Stores 8”, a format that can double profitability but forces to close establishments incompatible with it. What is happening. The chain went from 1,681 stores in 2023 to 1,674 in 2024, closing 49 establishments compared to 42 openings. It is not crisis: it is strategy. “8” stores “need spaces of 1,500 square meters to be efficient, impossible in much smaller stores, why they will work decades ago. “We are a assembly chain and the less variability it has, the better it works,” said Juan Roig in the presentation of 2024 results, according to Valencia Plaza. A well -located store 8 absorbs customers from several nearby small stores, concentrating traffic at more profitable points. It is a calculated cannibalization. In figures: 1,431 stores already function as store 8 (85.5% of the total). 10,000 million invested in 7 years of transformation. 3.88% record marginup to foreign chains such as Walmart (2.88%) or Costco (2.95%). 419 million allocated in 2024 only to adapt stores to the new model. The context. “8” stores “are diaphanous spaces with large corridors, advanced technology and new sections such as” ready to eat. ” They reduce energy consumption by 40% and improve purchase experience, but demand specific locations with good accesses and parking. Roig admits to make “frequently unpopular decisions” closing stores due to “small size, access problems or lack of profitability.” The model prioritizes operational uniformity over territorial capillarity: better few perfect stores than many mediocre. Yes, but. Nor are they “perfect stores.” Roig himself says it And his own name says: they are called that because “to get to 10 they must still incorporate new elements and services demanded by customers.” Deepen. Mercadona is changing its commercial map by store. The objective is to complete the 100% transformation in 2026, sacrificing less efficient establishments to concentrate investment in Premium locations. Operational perfection has become its competitive advantage, even if that means leaving some neighborhoods without a merchant as hand as before. Outstanding image | Mercadona In Xataka | Juan Roig believes that cooking at home has no future. There are eight million Spaniards who are already giving the right

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