Shares in Carrefour Climb After 1st Half Update
27 Luglio 2018 - 9:55AM
Dow Jones News
By Anthony Shevlin
Shares in Carrefour SA (CA.FR) climbed on Friday following the
company's first-half results after markets closed on Thursday.
The French retailer posted a loss in the first half, mainly due
to non-recurring costs related to its reorganization plans. Net
loss for the period was 861 million euros ($1.01 billion).
Sales including VAT were up 0.7% on a like-for-like basis,
boosted by more favorable commercial trends in the second quarter.
Sales in Carrefour's domestic market were stable during the
period.
At GMT 0722, shares in Carrefour traded at EUR15.24, up
9.6%.
Analysts at Bernstein said the results are a good start to the
troubled retailer's transformation plans, and expects 2018 to be
the low point in terms of profitability.
"The tide seems to be turning for Carrefour," it said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
July 27, 2018 03:40 ET (07:40 GMT)
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