Carrefour : Decent Q1 sales, price adjustment policy in France funded by cost-cutting. Target price of € 17.5 vs € 18.0
>Q1 2024: in line with forecasts - Yesterday evening, Carrefour published its sales figures for Q1 2024. Sales including tax were € 22.2bn, a slight 0.4% increase on a reported basis of which 13.5% l-f-l, broadly in line with expectations in France, relatively weak in Europe and a shade above in Latin America. Overall, as expected, the quarter was marked by the continued deceleration in food inflation and a volume effect still under pressure in Europe, to which sho...Carrefour 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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