Carrefour : Impressive Q3 performance, just above expectations, and guidance unsurprisingly confirmed
>Q3 2023 sales: up 9% LFL vs. estimate of 6.2% - Carrefour yesterday reported its Q3 2023 sales. Sales including tax totalled € 23.6bn, up 9% LFL, above our estimate of 6% and slightly higher than the consensus (Visible Alpha 5.5% and Bloomberg 7.5%). This represents a sequential slowdown in growth relative to 10.3% in Q2 and 12.3% in Q1. Sales were subject to a calendar effect of 0.8%, a fuel prices effect of -1.5% and a forex effect of -6.4% (due to the sharp fall ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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