Carrefour (CA FP) France
Consumer Staples
Woozle remains bearish based on their findings from recent surveys with store managers in France and Brazil - French Carrefour stores report +1% LFL sales growth in 4Q22, missing street estimates of +4.4% Y/Y. The majority of respondents revealed pricing levels higher than discount retailers and expressed worries surrounding customer retention going forward. Several stores reported flat or decreased foot traffic in early signs of reduced demand. Widespread supply issues are affecting inventory levels and SKU availability. Brazilian Carrefour stores report +17% LFL sales growth, also missing expectations.
Edition: 150
- 09 December, 2022