Carrefour posted a strong performance in Q1 FY21. The key positives were market share gains in almost all key geographies, a strong performance in France (including the hypermarkets), a robust show in Brazil (despite some headwinds like the cancellation of carnival festivities and the deceleration in food inflation) and the announcement of a share repurchase plan worth €500m (c.4% of market cap). We maintain a positive outlook on the stock’s valuation.
22 Apr 2021
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- Published:
22 Apr 2021 -
Author:
Nishant Choudhary -
Pages:
4
Carrefour posted a strong performance in Q1 FY21. The key positives were market share gains in almost all key geographies, a strong performance in France (including the hypermarkets), a robust show in Brazil (despite some headwinds like the cancellation of carnival festivities and the deceleration in food inflation) and the announcement of a share repurchase plan worth €500m (c.4% of market cap). We maintain a positive outlook on the stock’s valuation.