Goldman Sachs lowered its price target for Carrefour to €17 from €18 while maintaining a neutral rating. The bank cited slowing French grocery trends and difficult year-over-year comparisons for the revision. Carrefour shares experienced a slight decline following the announcement.
CEO Alexandre Bompard joined a retail alliance to oppose legislation that limits price negotiations with multinational suppliers. The coalition warns that the proposed law could increase the cost of a typical shopping basket by nearly €20.
Logistics firm GXO renewed its long-term contract for Carrefour’s frozen supply chain operations in Belgium and Luxembourg. The partnership between the two companies has spanned nearly 50 years.