Carrefour posted a strong performance in Q2 and H1 FY21. The lfl sales surged 3.6% in Q2, driven by a strong show in France. The adjusted operating profit (at constant FX) was also strong with 11.2% growth. The key highlight was market share gains across all business formats in France. Ongoing strength of hypers is also noticeable. We will tweak the financial estimates slightly but maintain our positive stance on the stock’s valuation.
29 Jul 2021
The momentum continues!
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The momentum continues!
- Published:
29 Jul 2021 -
Author:
Nishant Choudhary -
Pages:
4
Carrefour posted a strong performance in Q2 and H1 FY21. The lfl sales surged 3.6% in Q2, driven by a strong show in France. The adjusted operating profit (at constant FX) was also strong with 11.2% growth. The key highlight was market share gains across all business formats in France. Ongoing strength of hypers is also noticeable. We will tweak the financial estimates slightly but maintain our positive stance on the stock’s valuation.