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Carrefour S.A.
Video analysis: CRERF
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News: CRERF
Carrefour: Core Markets Are Better, But H2 Has To Deliver
Carrefour SA is rated hold, reflecting strong core market performance but offset by Cora & Match losses and FCF uncertainty. France, Spain, and Brazil delivered ROI and margin growth, yet group margin and FCF excluding Italy/Romania deteriorated in H1 2026. Cora & Match remain loss-making; breakeven is targeted for FY2026, but H2 profit conversion is critical for sentiment and valuation.
Carrefour sales beat forecasts as France, Brazil drive growth
Carrefour reported better-than-expected second-quarter sales on Thursday, as Europe's largest food retailer benefited from improving momentum in France and a return to expansion in Brazil.