Carrefour S.A.

Carrefour is a distribution group based in France. Co. is engaged in retailing business, primarily in Europe (France, Belgium, Spain, Italy, Poland, and Romania); Asia (China, India, and Taiwan); and Latin America (Argentina and Brazil). Co. offers a variety of fresh produce, products from local suppliers and major-brand products. Co. operates Hypermarkets, Supermarkets, Convenience stores and Cash & Carry stores, as well as food and non-food e-commerce sites. Co. also offers services such as financial and insurance services, travel, entertainment, after-sales services, and leasing of commercial vehicles. As of Dec 31 2013 Co. operated 10,105 stores under its brand.
  • TickerCA
  • ISINFR0000120172
  • ExchangeEuronext Paris
  • SectorFood & Drug Retailers
  • CountryFrance

Analysts

Jean-Christophe Dourret

Carrefour : Carrefour - 12 nov 2018

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Jean-Christophe Dourret

Carrefour : Carrefour - 12 Nov 2018

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Valérie GASTALDY

Short term view - CARREFOUR SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €16.980. Breaking below the support at €14.900 would invalidate the trend.

Jean-Christophe Dourret

Carrefour : Carrefour - 12 nov 2018

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Jean-Christophe Dourret

Carrefour : Carrefour - 12 Nov 2018

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Nikolaas Faes

CARLSBERG - NEUTRAL | DKK760 vs. DKK735 (+5%) Strong Q3 was anticipated

Strong Q3 figures were already pre-announced Last Wednesday, Carlsberg raised its FY18 organic EBIT growth guidance to 10-11%, up from high single digit previously (we were expecting 8.9%). The company explained this upgrade from the higher-than-expected third-quarter revenue and operating profit, following good progress on its strategic priorities, strong execution of Funding the Journey and a warm summer in Western Europe. On the minus side, Carlsberg is now expecting a translation impact on operating profit of around DKK -500m (previously DKK -425m) was assumed, based on the spot rates a...

Ioannis Pontikis

Morningstar | Carrefour Reports In-Line 3Q Sales, Cuts Capital Expenditure

Carrefour provides exposure to global food retail with a high European weighting (72% of sales), mostly in the mature and competitive western part of the continent: France, Spain, Italy, and Belgium. However, it is highly exposed to the large hypermarket format (more than 50% of total European sales), which is in structural decline in mature markets. This is due to consumer behaviour shifts and demographic trends (less waste, lower family formation rates, smaller families), which have contributed to the structural growth of convenience over one-stop shops, with shoppers preferring more frequen...

Ioannis Pontikis

Carrefour Reports In-Line 3Q Sales, Cuts Capital Expenditure

Carrefour reported a third-quarter 2018 sales update with like-for-like and group sales up 2.1% and 2.7%, respectively, at constant exchange rates, in line with our expectations. While we maintain our no-moat rating, we intend to update our model for a larger-than-expected adverse currency effect from Latin America and a lower-than-expected capital budget for the year (change of guidance), and we do not expect a material impact to our EUR 17.90 fair value estimate. The firm is continuing the imp...

1 director bought

A director at Carrefour bought 24,227 shares at 15.407EUR and the significance rating of the trade was 89/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Jean Sassus
  • Laure Billoret
  • Matthias Desmarais
  • Steven Gould
  • Valentin Pernet
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/15/2018

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Ahmed Ben Salem ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Jean Sassus
  • Laure Billoret
  • Matthias Desmarais
  • Steven Gould
  • Valentin Pernet
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/10/2018

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Bruno Cavalier ...
  • Christophe-Raphaël Ganet
  • Jean Sassus
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/08/2018

...

Bruno Cavalier ...
  • Christophe-Raphaël Ganet
  • Jean Sassus
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/10/2018

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Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean-François Granjon
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Nicolas Kieffer
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Salma Bouraoui
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2018

Which stocks should be picked over the summer? We have sought to answer this question by screening the Stoxx 600 using simple criteria: buy stocks with positive 1m, 3m and 6m EPS revision and that are not expensive (maximum premium of 20% on P/E and P/B) relative to their respective sectors. We have selected stocks on which our analysts have Buy recommendations and our chart analyst (Rémy Colombero) has a positive opinion: Ahold, Aegon, Alten, Arkema, Eiffage and Ipsen. Applying a sym...

Carrefour

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ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Unilever, Nestlé, Carrefour, Pernod Richard, Telia and ArcelorMittal

Unilever (UNANA) reported on 3Q18 sales, which we see as broadly neutral for spreads. Turnover came in at €12,529m with underlying sales growth (USG) of 3.8%. Sales were down 4.8% on a reported basis due to a 5.2% negative FX impact and a negative 3.3% impact from disposals (mainly the Spreads business). Price growth in Argentina was excluded from the growth figures provided today due to its hyperinflationary environment. (For full story, download report)

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Casino, Carrefour, Danske Bank, Engie and Enel

Casino (COFP) claims that in recent days it was approached by Carrefour (CAFP) to discuss a potential merger. Carrefour, however, denies having made such an approach and says it is looking at legal options to stop the “innuendo”. Nevertheless, Casino's board unanimously rejected the proposal in a meeting held on Sunday. Together Casino and Carrefour would hold about a third of the French grocery market and would also have overlapping operations in Brazil. These would no doubt run into antitrust issues. A merger would probably be a positive for the much lower rated Casino bonds (Ba1 Stable / BB...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier

Coffee, Croissants & Credit/DSM, AkzoNobel, Eandis, EDF, Carrefour, Tesco

Copy relevant paragraph(s) here

Consumer and Market Insights: Haircare in Romania

Summary The Romanian Haircare market is led by the Shampoo category and is also expected to register fastest growth in value terms during 2015-2020. Hypermarkets & Supermarkets is the leading channel for distribution of Haircare products in the country. Rigid Plastics is the most commonly used packaging material in the market. The Procter & Gamble Company and L'Oreal S.A. are the leading players in the market. Key Findings - The Haircaremarket in Romania is forecast to grow at a CAGR of 1.3% during 2015-2020 in value terms - The Hair Colorants category has the highest volume share in the o...

Jehanne Leroy

Proxy Report - 15/06/2018

Since July 18, 2017, Alexandre Bompard is Chairman and CEO of the Company, replacing Georges Plassat who retired. His termination package comprises a termination agreement amounting to €3,975,000, his pension plan (€517,810 per year) and his not yet vested performance shares previously granted (€2,525,600 as of December 29, 2017), i.e. a total amount of €7,018,410. Alexandre Bompard received a total amount of €5.2 M for 5.5 months in office. This level of remuneration hardly impairs the social cohesion considering that voluntary leave plans were implemented, that most hypermarkets will now be ...

Jehanne Leroy

Proxy Report - 15/06/2018

Depuis le 18 juillet 2017, Alexandre Bompard est Président-Directeur Général de la Société, remplaçant Georges Plassat, parti à la retraite. Le package de départ de M. Plassat comprend non seulement une indemnité de départ de 3 975 000 €, mais aussi le maintien des actions gratuites non proratisées à l’inverse des recommandations de Proxinvest et du HCGE, assujetties à des conditions de performance, attribuées et non encore acquises (d’une valeur au 31 décembre 2017 de 2 525 600 €), soit au total 6,5 M€. Il percevra par ailleurs une retraite supplémentaire de 517 810€ par an alors qu’il n’aura...

Etude de l'AG du 15/06/2017

Le conseil d'administration a confié au comité des nominations une mission relative à la succession de M. Plassat, 67 ans, dont le mandat vient à échéance en 2018. Il est proposé d'augmenter la limite d'âge statutaire de 70 ans à 75 ans pour le Président du conseil. A ce jour, aucun nom n'est officiel pour l'évolution de cette gouvernance, tant au poste de Directeur Général qu'au poste de Président du conseil. Proxinvest regrette une déviation du code AFEP-MEDEF non déclarée et donc non explicitée. En effet selon le code, un vote consultatif ex-post sur la rémunération des directeurs généraux...

Valérie GASTALDY

Short term view - CARREFOUR SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €16.980. Breaking below the support at €14.900 would invalidate the trend.

Valérie GASTALDY

Analyse court terme - CARREFOUR SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 16,980 €. La rupture du support à 14,900 € invaliderait cette tendance.

Valérie GASTALDY

Analyse court terme - CARREFOUR SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 16,980 €. La rupture du support à 14,900 € invaliderait cette tendance.

Valérie GASTALDY

Short term view - CARREFOUR SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €16.980. Breaking below the support at €14.900 would invalidate the trend.

Valérie GASTALDY

Analyse moyen terme - CARREFOUR SA : Le rebond gagne en vigueur.

La tendance est baissière. Le rebond gagne en vigueur. Il est probable que cette reprise s'achève sur la résistance à 16,700 € et que les prix baissent à nouveau vers 12,955 €. La tendance de fond serait remise en cause en cas de franchissement de 19,183 €.

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