Carrefour : Q3 2018 sales: a stronger q-o-q improvement (France and Brazil) than we expected, indicating that the recovery has indeed begun
>Q3 sales in line but with stronger l-f-l growth - Consolidated Q3 2018 sales (€ 21.087bn, -2.8% reported and +2.7% at constant currencies), in line with our forecast and that of the consensus at € 21.1bn. Organic growth and l-f-l growth (excluding fuel and calendar effects) came out a little higher than we expected (+2.3% organic vs +2%e and +2.1% l-f-l vs +1.6%e) thanks to France.France: +1.6% l-f-l vs +0.9%e, with hypermarkets stable l-f-l - France...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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