Carrefour : Q4 2019: momentum in Brazil and Spain to offset shock from strikes in France. 2019 EBIT expected 2.4% above the consensus
>Q4 2019 sales slightly higher than expected thanks to Brazil - Q4 2019 sales came in at € 21.743bn, +0.1% in reported terms. Quarterly organic growth came to 2.9% (vs +2.1%e) and l-f-l to +3.1%, i.e. 1% above our forecasts of 2.1%e. After a soft Q3 2019 (l-f-l at +1.9%), the group returned to growth of around 3% (as in Q1 and Q2 2019) thanks to Brazil and Spain.For the year as a whole, sales came to € 80.7bn, a slight slowdown in reported terms (-0.4%), but up 3...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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