Carrefour's Brazilian Business Update Provides Good Performance Support -- Market Talk

Dow Jones07-24

0853 GMT - Carrefour's Brazilian local listing Atacadao SA reported its 2Q performance overnight, providing good support for the French grocer's 1H performance due to be published later on Wednesday, Jefferies analysts say in a note. Atacadao's 2Q like-for-like sales grew 6.0%, beating market expectations of 3.8%, while margin improvement of 58 basis points slightly missed expectations of 80bps, they say. The margin improvement was driven by a recovery in prices and volume growth, but it was partially offset by sales mix and ongoing price adjustments in retail, they add. Carrefour shares are down 1.2% and down 18% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

July 24, 2024 04:55 ET (08:55 GMT)

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The margin improvement was driven by a recovery in prices and volume growth, but it was partially offset by sales mix and ongoing price adjustments in retail, they add. Carrefour shares are down 1.2% and down 18% on a 12-month basis. 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