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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Carrefour SA's CEO Alexandre Bompard is set to publicly apologize to the Brazilian government amid a controversy regarding the company's stance on South American meat sales in France. French ambassador Emmanuel Lenain is coordinating with Brazilian Agriculture Minister Carlos Favaro to facilitate the apology and emphasize the quality of Brazilian meat.
Carrefour SA is exploring options to enhance its valuation, following the collapse of a potential sale to a rival over three years ago. The grocer is considering various strategies, including asset divestments, partnerships, acquisitions, and operational reorganizations, while consulting with advisers.
UBS has lowered its target price for Carrefour to €14.1 from €14.8, maintaining a Neutral recommendation amid challenging market conditions expected in the second half of the year, particularly in Europe. Despite improved Q3 growth rates, the EBIT outlook remains difficult, prompting a reduction in FY24e/FY25e EBIT forecasts by 4% and 3%, respectively. Carrefour has reaffirmed its financial targets for 2024, aiming for growth in EBITDA and EBIT, with Net Free Cash Flow aligned with its 2026 plan.
UBS has lowered its target price for Carrefour to €14.1 from €14.8, maintaining a Neutral recommendation amid challenging market conditions in Europe. Despite improved Q3 growth rates, the outlook for EBIT in the second half remains difficult, prompting a reduction in FY24e/FY25e EBIT estimates by 4% and 3%, respectively. Carrefour has reaffirmed its financial targets for 2024, including growth in EBITDA and Recurring Operating Income, with Net Free Cash Flow aligned with its 2026 plan.
UBS has lowered its target price for Carrefour, as reported by Cercle Finance and published by BOURSORAMA. The analysis is provided for informational purposes only, with BOURSORAMA disclaiming any responsibility for its content and ensuring no conflicts of interest affect its objectivity.
Carrefour is set to lay off 13 workers in Burolo, contributing to a total of 95 layoffs across the province of Turin, following a period of excessive workloads for its 125 employees. A meeting with unions is scheduled to address the redundancies and the increased pressure on remaining staff, as working conditions deteriorate amid rising living costs and a saturated supermarket market. The ongoing crisis in large-scale retail highlights the precarious situation for workers, with many facing reduced hours and worsening conditions.
Carrefour SA
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