Carrefour: stock heads the CAC after Q1 sales

(CercleFinance.com) - The Carrefour share is currently leading the CAC 40 index in Paris, up 4% after the retailer announced its Q1 results.

Carrefour's Q1 sales, including VAT, rose by 4.2% on a comparable basis (LFL). Group sales (including VAT) amounted to 18,564 million euros pre-IAS 29, up 2.2% at constant exchange rates. After taking into account an FX charge of -6.7%, overall sales at current exchange rates fell by 4.5%.

In France, Carrefour posted robust quarterly like-for-like growth (+3.5%, including +3.3% in hypermarkets). In the first few weeks of April, comparable growth in France was solid, including in hypermarkets, the group said.

Carrefour reiterates the guidelines of the Carrefour 2022 strategic plan and confirms all its operational and financial targets.

In its financial targets, Carrefour expects to achieve 4.2 billion euros in food e-commerce sales in 2022, 4.8 billion euros in organic product sales in 2022, 2.4 billion euros in additional cost savings by 2023 on a full-year basis (in addition to the 3.0 billion euros already achieved at end-2020), along with net free cash flow of over 1 billion euros per year from 2021 (after the disbursement of exceptional costs, notably linked to restructuring plans).

Investors clearly like this, with the share standing out in an index that is up by less than 0.5% in comparison.


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