CA.PA - Carrefour SA
| Previous Close | 17.03 |
| Open | 16.99 |
| Bid | N/A x N/A |
| Ask | N/A x N/A |
| Day's Range | 16.36 - 17.01 |
| 52 Week Range | 12.95 - 18.17 |
| Volume | 2,327,753 |
| Avg. Volume | 2,347,924 |
| Market Cap | 12.793B |
| Beta (3Y Monthly) | 0.75 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.73 |
| Earnings Date | Jul 24, 2019 - Jul 29, 2019 |
| Forward Dividend & Yield | 0.46 (2.71%) |
| Ex-Dividend Date | 2019-06-20 |
| 1y Target Est | 18.54 |
- Reuters•6 hours ago
Carrefour boss rules out exiting more countries after China deal
Carrefour boss Alexandre Bompard said he had no plans to exit other countries after the French supermarket retailer agreed to sell a majority stake in its Chinese operations to electronics retailer Suning.com. "China was a very specific situation, a very small market share, a small player with losses. The other countries do not have the same configuration." Bompard told BFM Business TV on Tuesday.
- Simply Wall St.•9 hours ago
Is There An Opportunity With Carrefour SA's (EPA:CA) 41% Undervaluation?
Today we will run through one way of estimating the intrinsic value of Carrefour SA (EPA:CA) by estimating the...
- TheStreet.com•20 hours ago
Carrefour Beats Retreat in China, Following Walmart and Tesco
After a quarter of a century selling groceries in China, Carrefour is beating a retreat. The deal leaves Carrefour with an interest in China without having to do any of the heavy lifting. Carrefour China currently operates 210 hypermarkets and 24 convenience stores, although its €4.1 billion (US$4.7 billion) in sales last year were down 5.9%.
- Financial Times•yesterday
FirstFT: Today’s top stories
Three days after Mr Trump aborted a mission to strike Iran in retaliation for its shooting down of an American surveillance drone, the president said he was prepared to enter into negotiations with Iran with “no preconditions” but added he would maintain the economic pressure on the Islamic republic until it decided it wanted to negotiate. “Look, you can’t have nuclear weapons.
- Bloomberg•yesterday
Carrefour Sells Control of China Business at a Discount
(Bloomberg) -- Carrefour SA has agreed to sell an 80% stake in its China unit for 4.8 billion yuan ($698 million) in cash to local retailer Suning.com Co. as it rethinks its exposure in the world’s No. 2 economy after years of decline.The yielding of control comes after a long search for a partner for the French company’s struggling Chinese operations. Once the premier foreign supermarket chain locally, it failed to adjust to the onslaught of e-commerce in recent years and sales slumped.The shares rose as much as 2.9% early Monday in Paris.Carrefour will retain a 20% stake in the China business, which generated net sales of 3.6 billion euros (28.5 billion yuan) in 2018. It will also get two seats out of seven on the China unit’s Supervisory Board, according to a statement Sunday. The valuation of Carrefour’s China unit at 0.2 times its 2018 sales -- compared to an industry average of 0.8 times -- is at a “significant discount to peers likely due to poor financial results,” said Citigroup Inc. analysts led by Lydia Ling in a note Monday.“The consolidation in store network, supply chain, logistics and membership could improve efficiency and profitability for both parties,” said the Citi note.A growing number of European and American retailers are either scaling back their presence or tying up with local partners in order to stay competitive in China, where e-commerce penetration is one of the highest globally. Walmart Inc., which has a network of around 400 supermarkets, relies on JD.com Inc. for its delivery service, while Germany’s Metro AG is said to be trying to offload a majority stake in its Chinese business.“The big problem for Carrefour and other western grocery chains is that they have major challenges in their home countries and can’t afford to grow in China,” said Pascal Martin, a Hong Kong-based partner at OC&C Strategy Consultants. “In China, if you want to grow in the groceries space, you have to continue to invest capital in less developed cities.”End of an EraIt’s the end of an era for one of the first foreign brands to gain a loyal following among Chinese consumers. Carrefour entered the country in 1995, ahead of Walmart, and its massive hypermarkets where one could buy fresh pork along with a TV ushered in a new style of shopping for a country just opening up to the outside world.But it has struggled to maintain profitability as buyers moved online rapidly in recent years, a shift that’s favored home-grown giants like Alibaba Group Holding Ltd. Despite efforts to digitize its operations, and an initiative to rent out store space to local retailer Gome Retail Holdings, Carrefour’s China sales declined about 10 percent last year to 3.6 billion euros, according to the company’s annual report.Earnings before interest, tax, depreciation and amortization were 66 million euros or 516 million yuan last year. It operates 210 hypermarkets and 24 convenience stores in China currently.The transaction represents an enterprise value of 1.4 billion euros ($1.6 billion) for Carrefour China. For Nanjing-based Suning, primarily an electronics retailer, the deal will help it cut procurement and logistics costs and boost profitability, the company said in a statement Sunday. Its Shenzhen-listed shares rose as much as 6.5% in early trading on Monday as investors rewarded the retailer for closing the deal at a low price.Alibaba holds a 20% stake in Suning and the two companies are closely allied. They’ve been investing in brick-and-mortar retailers with the goal of building an empire where offline and online shopping are seamlessly integrated. Earlier this year, Suning bought 37 department stores from Wanda Group, while Alibaba paid $2.9 billion in 2017 for a 36% stake in Sun Art Retail Group Ltd., China’s biggest supermarket chain. The Carrefour deal is likely to strengthen Alibaba’s foothold in the fiercely competitive groceries market in China.The acquisition has been cleared by Carrefour’s board and is expected to close by year end, but still needs approval from the Chinese regulator, said the companies.Carrefour’s decision to retain a 20% holding shows how China remains a strategic market for global retailers. Keeping that stake will allow it to maintain a foothold in an innovative retail market, a company spokeswoman said Sunday.(Updates with shares in third paragraph.)\--With assistance from Robert Williams.To contact Bloomberg News staff for this story: Geraldine Amiel in Paris at gamiel@bloomberg.net;Daniela Wei in Hong Kong at jwei74@bloomberg.netTo contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg•yesterday
The Bitter Contest for China’s Online Shoppers
(Bloomberg Opinion) -- Carrefour SA, Europe's largest retailer, may be the latest Western company to pull back from China. It’s unlikely to be the last.On Monday, the hypermarket operator said it would sell 80% of its China business for 4.8 billion yuan ($699 million) in cash to Suning.com, the Chinese retailer backed by Alibaba Group Holding Ltd. Carrefour will retain a 20% stake. Over the past few years, the French company’s plans to shrink its China footprint has been one of the worst-kept secrets in banking. Though Carrefour sold the business pretty cheaply – with a valuation of 0.2 times 2018 sales, compared with the industry average of 0.84, according to Citigroup Inc. – loosening its ties to the mainland may be a smart move, whatever the price. With sales in the country flagging and losses piling up, the deal comes as China’s macroeconomic picture is also darkening.Yet the key challenge for Carrefour preceded the trade war. In recent years, online-only players such as Alibaba have been piling pressure on brick-and-mortar operations, with Tesco Plc, Best Buy Co. and Marks & Spencer Plc each announcing plans to pull back from the mainland market. Carrefour’s share of the country’s hypermarket segment fell to 4.6% last year from 8.2% in 2009, Citi writes.(1) That’s a problem in a country with one of the world’s biggest rates of e-commerce penetration. China's online retail sales reached 3.86 trillion yuan in the first five months of this year, accounting for more than one-fifth of the country's total purchases of consumer goods, according to a recent report by the Chinese Academy of Social Sciences. To make matters worse, foreign brands no longer have the cachet they once enjoyed – at least in low-end consumer goods. In a survey last year, Credit Suisse AG said that Chinese consumers preferred domestic purveyors in categories like food and drinks and home appliances. With the trade war whipping up nationalist fervor, that trend may accelerate: The bank's latest poll of shoppers 18 to 29 years old showed that 41% preferred phones made by Huawei Technologies Co., up from 28%, while interest for Apple Inc.’s products fell to 28% from 40%.For many firms, ceding control to a local partner is probably the best way forward. Carrefour appears to be borrowing a page from the playbook of McDonald’s Corp., which sold 80% of its China business in 2017 to a tie-up between state giant Citic Group Corp. and private equity firm Carlyle Group LP.Or consider Walmart Inc., which sold its e-commerce delivery site to JD.com Inc. in 2016 in exchange for a stake in the Chinese retailer. The U.S. firm now aims to open 40 of its Sam’s Club stores in China by 2020. Costco Wholesale Corp. is also betting on China’s appetite for bulk buying, with plans to open its first bricks-and-mortar store in August. Whether Costco can pull this off without a local partner remains unclear.What is clear is that Carrefour won’t be the last retailer to rethink its China strategy. Germany's Metro AG is also looking to sell its $1.5 billion Chinese business. At a time when Chinese acquisitions overseas have dried up, bankers at least can thank Western firms for managing to drum up some business from the mainland. (1) The bank citesEuromonitor International research.To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Reuters•2 days ago
UPDATE 4-France's Carrefour free to focus on home market after retreat from China
PARIS/SINGAPORE/BEIJING, June 24 (Reuters) - Shares in France's Carrefour rose on Monday after it became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms. Investors welcomed a long-awaited all-cash deal struck at what analysts said was a good enough price in view of Carrefour's falling sales and operating losses in China. Carrefour, which has been in China since 1995, agreed to sell 80% of its Chinese operations to electronics retailer Suning.com for 620 million euros ($705 million).
- Reuters•2 days ago
France's Carrefour free to focus on home market after retreat from China
PARIS/SINGAPORE/BEIJING (Reuters) - Shares in France's Carrefour rose on Monday after it became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms. Investors welcomed a long-awaited all-cash deal struck at what analysts said was a good enough price in view of Carrefour's falling sales and operating losses in China. Carrefour, which has been in China since 1995, agreed to sell 80% of its Chinese operations to electronics retailer Suning.com for 620 million euros ($705 million).
- Benzinga•6 days ago
French Retailer Carrefour Is Putting Blockchain On Its Food Shelves
At the Blockchain Europe Expo held in Amsterdam, Emmanuel Delerm, project management specialist at French multinational retailer Carrefour, spoke on the possibilities of building consumer trust through the use of blockchain in food traceability. Carrefour began its blockchain project about 2.5 years ago, with the initiative bearing fruit through an elaborate provenance tracking platform that now accounts for several products like chicken, tomatoes, milk, eggs and cheese. When you buy a product it has a QR code on its packaging, and that directly takes you to the web page where we show the batch number, the order number, shelf life and the like," said Delerm.
- Reuters•11 days ago
Carrefour sees more retail sector consolidation, including in France
The boss of Carrefour said on Friday the retail sector was bound to consolidate in the coming years, notably in France, as competition intensifies, and that his mission was to make sure the French retailer came out a winner. When asked if Carrefour could exit underperforming countries such as Italy or China, Alexandre Bompard told an annual shareholders meeting he was confident his overhaul plan "could improve the operational situation in each of our countries". Carrefour, which is Europe's largest retailer, is in the midst of a five-year plan it launched in January 2018 to cut costs and jobs, boost e-commerce investment and seek a partnership in China with Tencent.
- Bloomberg•12 days ago
Amazon's Assault on Britain Has Gone Up a Notch
(Bloomberg Opinion) -- The changing nature of food retailing was laid bare on Thursday with lower-than-expected U.K. sales growth at Tesco Plc and Amazon.com Inc. expanding its partnership with the smaller British chain Wm Morrison Supermarkets Plc.Amazon’s agreement with Morrisons, while still fairly small right now, shows the ambitions of the online giant toward the U.K., already one of the world’s most competitive retail sectors. That will strike fear into the hearts of supermarket behemoths such as Tesco, Britain’s grocery leader. Tesco has been trying to bolster its defenses, and a slowdown in growth in the three months to May 25 shouldn’t be too surprising. All retailers face extremely difficult comparisons with the same period last year, when Britain was basking in sunny weather and enjoying a royal wedding. The company’s CEO, Dave Lewis, remains on course to hit his target for an operating margin of 3.5% to 4% by February next year.Still, the first-quarter slowdown doesn’t exactly inspire confidence about what happens once that margin target is reached. The company updates the City next week on how it can find ways to bolster sales and profit. It’s staying tight-lipped for now, but making more of its use of customer data — including through its Clubcard loyalty scheme — might be on the agenda. Lewis has talked before about developing the property around its stores. That could become a bigger part of cash flow, too.Tesco could also work more closely with Booker Group Ltd., a recently acquired food wholesaler. It’s experimenting already with putting cash-and-carry outlets in Tesco stores and introducing dedicated bulk-buy areas, with one eye on becoming Britain’s answer to America’s Costco Wholesale Corp. Wisely, it has also set up a purchasing alliance with Carrefour SA, the French supermarket chain.But as the quarter showed, life isn’t getting any easier for Tesco. Aldi and Lidl, the cutthroat German discount grocers, are still powering ahead in Britain, putting enormous pressure on the traditional giants.That makes Amazon’s advances all the more fraught. Morrisons, the U.K.’s fourth-biggest supermarket group, said on Thursday that it was expanding its super-fast grocery delivery service for Amazon customers. Nine regions in England and Scotland will now offer this, up from four. The aim is for nationwide coverage.The rapid roll-out of the Amazon partnership has been facilitated by another smart move by Morrisons chief executive David Potts, who started his supermarket career on the shop floor. He has negotiated an end to his company’s exclusive relationship with Ocado Group Plc, the specialist online grocer. That has opened the door to closer ties with Amazon.Beset by price-slashing German rivals on one side and savvy online operators on the other, Tesco and its ilk are going to have to work hard to keep food in their investors’ mouths.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Reuters•22 days agoCarrefour says blockchain tracking boosting sales of some products
French retailer Carrefour SA has seen sales boosted by the use of blockchain ledger technology to track meat, milk and fruit from farms to stores and will extend it to more products to increase shopper trust, an executive said on Monday. Blockchain's digital tracking technology allows customers to see detailed information on products like when it was harvested or packed - reassuring them on the quality of items they buy and allowing them to avoid products with genetically modified organisms, antibiotics or pesticides if they want. Carrefour has launched blockchain information for 20 items including chicken, eggs, raw milk, oranges, pork and cheese, and will add 100 more this year with a focus on areas where consumers want reassurance, like baby and organic products.
- Simply Wall St.•last month
Carrefour SA (EPA:CA) Investors Should Think About This Before Buying It For Its Dividend
Dividend paying stocks like Carrefour SA (EPA:CA) tend to be popular with investors, and for good reason - some...
- Reuters•last month
Carrefour considers sale of stake in China business - sources
HONG KONG/PARIS/FRANKFURT (Reuters) - Carrefour, Europe largest retailer, is exploring the sale of a minority stake in its loss-making business in China and has started sounding out potential buyers, people familiar with the matter said. Carrefour's China business is valued at around $1 billion (£784 million) and the retailer is working with BNP Paribas on the deal, the sources said. A Carrefour spokeswoman said on Friday: "There is nothing particularly new to say about the matter", when asked about China.
Reuters•last monthCarrefour considers sale of stake in China business: sources
PARIS/FRANKFURT/BEIJING (Reuters) - Carrefour, Europe largest retailer, is exploring the sale of a minority stake in its loss-making business in China and has started sounding out potential buyers, people familiar with the matter said. Carrefour's China business is valued at around $1 billion and the retailer is working with BNP Paribas on the deal, the sources said. A Carrefour spokeswoman said on Friday: "There is nothing particularly new to say about the matter", when asked about China.
- Reuters•last month
Carrefour and TerraCycle launch 'Loop' test in Paris to tackle waste
French retailer Carrefour and U.S. waste recycling company TerraCycle launched on Tuesday the test for their 'Loop' initiative which they hope will tackle the problems of plastic waste threatening to destroy the environment. The 'Loop' online platform will allow shoppers in the Paris area to buy orange juice, powder detergent or shampoo in reusable containers that do not result in waste. Users put down a refundable deposit via the Loop website when ordering products, which are delivered in reusable glass and metal bottles, and shipped in a tote bag to shoppers' doors.
- Reuters•2 months ago
Carrefour Brasil expects food inflation to ease despite pressure from China
Carrefour Brasil expects food inflation to stabilize despite external factors such as a swine flu outbreak in China, Chief Executive Officer of wholesale unit Atacadão, Roberto Müssnich, said on Friday. ...
- Reuters•2 months ago
Carrefour Brasil beats forecast in 1st quarter results
Brazilian supermarket chain Carrefour Brasil on Thursday reported quarterly net income of 441 million reais , slightly above market expectations. Analysts on average expected net income of 395.3 million ...
- Reuters•2 months ago
A sale of Carrefour's business in China not on the agenda: spokeswoman
PARIS (Reuters) - A sale of Carrefour's business in China is not on the agenda, a spokeswoman for the French retailer said on Wednesday in answer to market rumours that had sent the share higher. Carrefour's ...
