Staple Retail equity research

Explore the most viewed and latest equity research and media content for companies within the Staple Retail sector. Stocks in this sector provide goods and services in the food wholesale and drug retail industries.

Staple Retail equity research

Explore the most viewed and latest equity research and media content for companies within the Staple Retail sector. Stocks in this sector provide goods and services in the food wholesale and drug retail industries.

Latest Content

Carrefour

Softer Q3 performance; hopes pinned on the new CEO

Carrefour reported Q3 FY17 results slightly below our estimates but in line with market consensus. The lfl sales growth slowed down to 0.5% (vs Q2: +2.8%, Q1: +1.4%), impacted by food deflation in the major operating markets and a delayed anniversary campaign in France (most important promotional event for French hypermarkets). The domestic market witnessed a 0.9% lfl decline (vs Q2: +1.9%, Q1: +0.5%; contributes c.45% to the group revenue) as both hypermarkets and supermarkets plunged into the red (-1.7% and -1.2% yoy, respectively), while convenience/other formats clocked 2.2% revenue growth. Europe (excluding France) was up 0.6% (vs Q2: +3.4%, Q1: +0.9%; contributes c.26% to the group revenue), as the dynamic growth momentum in Poland and Romania (+4.4% and +9.2%, respectively) was offset by a subdued performance in Spain, Italy and Belgium (these countries witnessed a 0.5% lfl sales decline). In the LatAm region (Q3: +4.4%, Q2: +6.9%; contributes c.21% to the group revenue), Argentina led the pack with 16.7% growth (driven by inflation as high as 20%) and Brazil registered a meagre 1.1% lfl uptick. Despite a slight improvement in China and Taiwan, the Asian business remained in negative territory (Q3: -3.0% vs Q2: -4.7%, Q1: -4.0%; contributes c.8% to the group revenue). The reported revenue growth in the quarter stood at 0.4% (vs Q2: +6.1%, Q1: +6.2%) on the back of FX headwinds (1.5% yoy; reflecting the depreciation of the Argentine peso and Brazilian real vs the Euro). In the nine month period, lfl and reported revenue advanced 1.5% and 4.1% yoy, respectively. Management reiterated FY17 guidance: 1) 2-4% sales growth at CER, 2) recurring operating profit to register a similar evolution to the decline recorded in H1 FY17; and 3) stable FCF (excluding exceptional items) with €2.2-2.3bn capital expenditure.

  • 20 Nov 17
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MAG NAR OTC SVCA SPL HAT AST URU CSSG TOT

Small Cap Breakfast

Clean Invest Africa—Introduction due around 14 Nov. Vehicle established to identify investment opportunities and acquisitions in renewable and clean energy projects/companies or alternative technologies that are used in a socially and environmentally responsible way that will aid the development of the African continent, Boku - Independent direct carrier billing company. Revenues were up 21% to US$10.2 million in HYJun17 . Q32017, revenues grew to US$6.5m, up by 44% . The Company also saw continued growth across all of its key metrics: user numbers, total payment and a positive adjusted EBITDA for the month of September 2017. Due 20 Nov. Offer TBA. Ten Lifestyle Hldgs. Technology-enabled lifestyle and travel platform providing trusted concierge services to the world's wealthy. Net revenue increased from £20 million in the year ended 31 August 2015 to £33 million in the year ended 31 August 2017, a compound annual growth rate of 29%. Offer and date TBA. AfriTin Mining—Demerger from Bushveld Minerals (BMN.L). Offer TBA. Due 6 Nov. The Uis Tin project (Namibia) is considered the flagship tin asset within the portfolio, as this was once the largest open cast tine mine of its kind in the world . Footasylum Ltd—UK-based fashion retailer focusing on the branded footwear and apparel markets announced its intention to seek admission to AIM. Expected value between £130m and £150m. Due Nov 2017. Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec. OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected mid November.

  • 03 Nov 17
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