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Carrefour (ENXTPA: CA) 4Q17 and FY17 Update: FY17 Sales Impacted by a Slowdown in Food Sales Growth

Executive Summary

  • Carrefour reported 4Q17 sales including sales tax of €23,328 million. Comparable sales grew by 1.9% excluding fuel and calendar effects, an improvement over the previous quarter that was due to stronger momentum in France.
  • FY17 sales including sales tax reached €88,240 million and comparable sales grew by 1.6%, a slowdown versus FY16 due to a deceleration in food sales growth.
  • The company will report complete full-year results on February 28. For FY17, analysts expect Carrefour to report net revenue of €79,176 million, EBIT of €2,029 million and normalized EPS of €1.13.

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