298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Apr 13, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Carrefour shares fall to six-year low on weak sales

By
Reuters
Published
Apr 13, 2018

Carrefour’s shares fell on Thursday to touch their lowest level since October 2012, after the French food retailer reported a slowdown in sales growth during the first quarter.


Carrefour


Carrefour shares were down 3.16 percent by 0701 GMT, the worst performer on the CAC-40 index of French blue-chip stocks.

Late on Wednesday, Carrefour had given a cautious outlook for this year after sales growth slowed in the first quarter, with continued weakness in its core French market suggesting that the supermarket chain faces a long road to recovery.

“By the equivalent stage in his tenure Dave Lewis had already had a marked impact on Tesco’s like-for-like sales performance,” said Bernstein analyst Bruno Monteyne, who kept a “market perform” rating on Carrefour.

“Mr Bompard will probably get the benefit of the doubt for now, but for his turnaround to be credible he will soon need to demonstrate a topline turnaround,” he added.

Europe’s largest retailer had in January announced plans to cut costs and jobs, boost e-commerce investment and seek a partnership in China in an effort to lift profit and revenue and help it to contend with competition from U.S. online retail giant Amazon.

“While a number of one-offs (weather, strikes), which were not quantified by management, contributed to the operational disruptions, we worry about the direction of the French margins into 1H,” wrote JP Morgan analysts, who kept a “neutral” rating on Carrefour shares.

Deutsche Bank analysts cut their 2018/2020 earnings per share estimates on Carrefour by 2 percent on average, while Barclays said it was lowering its earnings per share estimates on Carrefour by 6 percent on average.

“Although we consider that the group’s decision to streamline its cost structure and accelerate its online strategy will bear some fruit in the medium-term, we believe that earnings momentum will remain weak in the short term,” wrote Barclays.

© Thomson Reuters 2024 All rights reserved.