Carrefour : Q4 sales beat expectations. 2018 EBIT of € 1,930m (3% above the consensus). Beginning of the recovery should be factored in
>Q4 2018 sales: +1.9% l-f-l, i.e. +70bp higher than expected - Carrefour has reported consolidated sales including tax of € 22.6bn in Q4 2018 (excluding IAS 29), -2.3% on a reported basis, but +2% organic and +1.9% l-f-l vs +1.2% estimated on a l-f-l basis (consensus +1% only). Despite the “yellow vests†movement in France, momentum in Q4 was identical to that in Q3 (+2.1% organic) which already showed a marked sequential improvement vs H1 2018 (only +1% organic).§rch...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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