Carrefour : Q3 preview – Brazil under pressure, resilience in France and Europe. 2023 ROI estimate reduced by around 5%
>Q3 2023 sales: 6.2%e l-f-l vs 10.3% in Q2 2023 - Carrefour will report its Q3 sales on Wednesday 25/10 after trading. We expect Q3 sales to be up 6.2% l-f-l which would be a sequential deceleration vs Q2 (10.3% l-f-l). As expected the quarter will be marked by a further deceleration in food price inflation and a volume effect still under pressure (stronger still in non-food). FX is likely to be unfavourable at -6.4%e, strongly penalised by the Argentinean peso (-145...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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