Bryan Garnier - FOOD RETAILING | Sector view Inflation becoming a double-edged sword for European food retailers

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Bryan Garnier

Clement Genelot

FOOD RETAILING | Sector view Inflation becoming a double-edged sword for European food retailers

Ahead of Q3 publications, we expect a mixed set of results with re-accelerating and resilient top line while profitability is set to suffer from revived OPEX inflation in Europe. Once again, it is all about taking shelter in defensive/yield stocks not so exposed to Europe (i.e. Ahold Delhaize) or in event-driven stocks benefiting from a powerful short-term catalyst (i.e. potentially Carrefour if the CMD provides enough clarity on the future shareholder return policy post-assets sale).

11/10/2022 1 EN

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Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Clement Genelot

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FOOD RETAILING | Sector view Inflation becoming a double-edged sword for European food retailers

Adyen Q1 trading update offers no surprise

Rubrik IPO: unsustainable moat dictates sufficient margin of safety

HelloFresh: Q1 marked by real dichotomy between ready-to-eat and meal-kit

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