Carrefour's Shares Plummet on Disappointing Sales Growth
Carrefour's shares fell sharply on Thursday morning on the Paris Stock Exchange, following the French retail group's announcement of lower-than-expected sales growth at constant scope for the third quarter. At 7:55 GMT, Carrefour's stock lost 4.26%, marking the second-largest decline on the CAC 40 index, behind Dassault Systèmes (-14.84%), which also revised its annual revenue forecast downward. At the same time, the Parisian index rose 0.53%, while the European food and beverage sector fell 0.70%. According to Jefferies, Carrefour's like-for-like sales (excluding Argentina) increased by only 0.9% during the period, compared to the 1.8% expected by consensus. Analysts highlight a generalized weakness in regional performance, particularly in Brazil, where a sharp deceleration in sales was observed. In France, investments related to the transformation of former Cora stores and the development of private labels also weighed on the group's performance.
