Carrefour (EPA:CARR), the multinational retail corporation, saw its share value rise by 4.1% following the announcement of its Q3 sales on Thursday. The company reported sales amounting to €23.63 billion ($24.97 billion), marking a 9% like-for-like increase across all regions.
Despite a significant 20% sales boost in Latin America, the Brazilian market experienced a 3.7% decrease due to food deflation and consumption pressure. However, Carrefour has maintained its full-year targets, demonstrating resilience in the face of these market challenges.
Analysts from Jefferies and Citi have positively noted this steadfast adherence to targets, suggesting it could lead to investor relief given the robust sales figures and steady guidance provided by the company. The firm's projected growth in EBITDA, recurring operating income, and net free cash flow further underscore Carrefour's financial resilience amidst a challenging market landscape.
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