Carrefour faces structural French hypermarket format pressure as discounters (Lidl, Aldi) and e-commerce continue share gains. The Brazilian Atacadao cash-and-carry business is the high-quality growth engine but suffers FX translation drag. Cost cutting and France store conversions to franchise model are progressing. CEO Alexandre Bompard's transformation has improved free cash flow but top-line momentum remains uneven. Capital return policy and ~5% dividend yield provide a floor.
Thesis reviewed May 29, 2026
Carrefour SA is headquartered in France, which is currently showing moderate signals.
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Investors who hold CRRFY may also have indirect exposure through these country funds.
Carrefour Brazil Atacadao posts strong Q1 LfL growth on B2B momentum
France LfL sales decline as private label and discounter share grows
Estimates · Yahoo Finance · Not audited figures