Carrefour: Q4 marked by disinflation and Peso devaluation
Ahead of the FY release on 20th February, we have cut our Q4 sales by 1% to reflect steeper food disinflation and our FY EBIT by 4% due to the Argentinian Peso devaluation. We expect FY EBIT to fall YoY, with or without the Peso devaluation. Despite landing at the bottom end of the usual EUR15.5-18Carrefour is a distribution group based in France. Co. is engaged in retailing business, primarily in Europe (France, Belgium, Spain, Italy, Poland, and Romania); Asia (China, India, and Taiwan); and Latin America (Argentina and Brazil). Co. offers a variety of fresh produce, products from local suppliers and major-brand products. Co. operates Hypermarkets, Supermarkets, Convenience stores and Cash & Carry stores, as well as food and non-food e-commerce sites. Co. also offers services such as financial and insurance services, travel, entertainment, after-sales services, and leasing of commercial vehicles. As of Dec 31 2013 Co. operated 10,105 stores under its brand.
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