Investing.com — After the close on Thursday, Carrefour SA (EPA: CA) reported an operating profit of \u20ac757 million, 3% below the company-compiled consensus. The French retailer’s shares fell 4.4% in Paris trading after the European markets opened on Friday. <\/p>\n
Adjusted profit per share came in at \u20ac0.49, up 18.3% from \u20ac0.41 in the prior year period, as the French retailer posted sales growth of 2.1% on a like-for-like basis to \u20ac43.8 billion. <\/p>\n
The company confirmed its full-year 2026 targets, including growth in recurring operating income, more than 25 basis points growth in operating margin compared to 2025, and high single-digit growth in adjusted earnings per share. <\/p>\n
Sales in the first half increased 2.1% on a like-for-like basis and 1.7% YoY at current exchange rates. Recurring operating income grew 4.0% to \u20ac757 million from \u20ac727 million in the first half of 2025, driven by the company’s three core countries. France posted recurring operating income of \u20ac300 million, up 14% from the prior year, while Spain’s recurring operating income increased 7% to \u20ac177 million and Brazil’s rose 6% to \u20ac359 million. <\/p>\n
American depositary receipts are down 2.9% following the results. <\/p>\n
“Relative to our expectations, composition was OK, with core France (ex M&A) +7% better than we expected, but overall we think the results may be met with disappointment from investors and consensus will likely revise EBIT down ~1- 2% net due to non-core Argentina profits and corporate center drag,” Morgan Stanley analysts commented. <\/p>\n
The company achieved \u20ac490 million in cost savings during the first half, in line with its \u20ac1 billion target for 2026. Net free cash flow stood at negative \u20ac1.99 billion, an improvement of \u20ac95 million compared to the first half of 2025. Net financial debt decreased by \u20ac1.1 billion to \u20ac5.8 billion as of June 30, 2026 compared to June 30, 2025. <\/p>\n
In France, like-for-like sales grew 1.1% in the first half, with all formats posting positive growth. Spain confirmed strong momentum with 2.7% like-for-like sales growth, while Brazil returned to positive sales growth in the second quarter at 0.4% after a negative first quarter. <\/p>\n
“The first half of 2026 was marked by the launch of Carrefour 2030, a plan firmly focused on customers and retail excellence,” said Alexandre Bompard, Chairman and CEO. “Despite global geopolitical uncertainties, our strong first-half financial performance reflects the momentum of this transformation.” <\/p>\n
Carrefour completed the disposal of its Romania operations and will pay an interim special dividend of \u20ac0.21 per share, or \u20ac150 million, on July 30. <\/p>\n
Vahid Karaahmetovic contributed to this report. <\/p>\n
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