Carrefour’s Q3 19 performance was slightly below our expectations. While the rebound in the Spanish operations and strong gains in LatAm were encouraging, management needs to do more to revive ailing businesses – French hypers, Italy and Belgium. Q4 19 should see a slightly better performance due to easier comparables. We will tweak our financial estimates but maintain the positive stance on the stock.
31 Oct 2019
No big surprises in Q3
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No big surprises in Q3
Carrefour SA (CARR:WBO) | 0 0 1.4% | Mkt Cap: 15,102m
- Published:
31 Oct 2019 -
Author:
Nishant Choudhary -
Pages:
3
Carrefour’s Q3 19 performance was slightly below our expectations. While the rebound in the Spanish operations and strong gains in LatAm were encouraging, management needs to do more to revive ailing businesses – French hypers, Italy and Belgium. Q4 19 should see a slightly better performance due to easier comparables. We will tweak our financial estimates but maintain the positive stance on the stock.