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Carrefour (ENXTPA: CA) 1H19 Results: Adjusted Operating Income Nudges Up; Second-Quarter Comp Sales Beat Expectations

Executive Summary

  • Adjusted for €593 million of exceptional costs, Carrefour reported a 2.7% increase in operating income in 1H19.
  • Carrefour reported consensus-beating comparable sales growth in 2Q19. Growth in most regions improved sequentially, though 2Q19 comp growth slowed a little in its core French market.
  • The company launched several price campaigns and extended its e-commerce capabilities in 1H19. It also agreed to sell 80% of Carrefour China to

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