Carrefour: let us not deceive ourselves, Q2 is unikely to reassure

BUY, Fair Value EUR30 (+34%)

News published on July Tuesday 12, 2016
Share on

Carrefour’s statement (July 28th), following that of Casino, is likely to reflect a mitigated consumption environment both in France and Europe. Carrefour has been suffering a decline in market share at its French hypermarchés (momentum at which remains key to the equity story…) for a while now (-40 bp in P06), meaning the group could be somewhat under pressure during this publication. Going forward, we believe the post-summer promotions compaign in France (which was not particularly successful in 2015) will be key for reassuring on Carrefour’s ability to compete with Leclerc.

For more information please contact

The Essentials

Everything you need to know about investment banking dedicated to growth
Recent Transactions Highlights
From M&A, to IPOs see what’s been happening at Bryan, Garnier & Co this year
Join our Team
Bryan, Garnier & Co is always looking for talent in all our divisions, at all levels
Explore our opportunities