Following the release of 2022 data, which experts claim confirm the group’s operational strengths, Carrefour’s stock price increased on Wednesday.
Share prices were 5.9% higher at EUR17.39
Carrefour exceeded consensus forecasts with annual sales of more over 90 billion euros ($96.63 billion), with like-for-like growth of 11% in the fourth quarter that included growth throughout the group’s markets.
Following the print, analysts at Citi stated in a note that “Pertinently, Carrefour is taking volume market share in its main markets,” including France and Spain.
In contrast, free cash flow for the year came in at EUR1.26 billion, exceeding Jefferies analysts’ goal of EUR1 billion with a “excellent” performance.
