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    Cedric Lecasble

    Director and Senior Equity Analyst at Stifel, Nicolaus & Company, Incorporated

    Cedric Lecasble is a Director and Senior Equity Analyst at Stifel Nicolaus & Company, specializing in European consumer and retail sectors, notably covering food, beverages, eyewear, and sporting goods, with companies such as Rémy Cointreau and Estée Lauder featuring in his coverage universe. Over a 25-year career as a sell-side analyst, he has served as Head of Pan-European Retail Research at Raymond James and held prior roles at Société Générale, Kepler Cheuvreux, and Pallas Stern Bank before joining Stifel in 2018. Lecasble has been recognized with industry awards, including #1 Europe Stock Picker – Food & Staples Retail by Thomson Reuters in 2013, and maintains a transparent performance record on platforms like TipRanks, with a coverage portfolio of 15 stocks and a noted success rate. He holds a Master’s degree in Financial Capital Markets and Corporate Finance from Paris Dauphine University, a CIIA diploma from SFAF, and is a credentialed member of leading European analyst associations.

    Cedric Lecasble's questions to CARREFOUR (CRRFY) leadership

    Cedric Lecasble's questions to CARREFOUR (CRRFY) leadership • Q2 2024

    Question

    Cedric Lecasble requested more information on the Spanish financial services business, which is rarely discussed, asking about its weight within Spanish operations and the nature of the H1 impact that is not expected to repeat in H2. He also asked about the flexibility for further cost savings in European markets compared to France.

    Answer

    Executive Matthieu Malige explained that while the company doesn't disclose financial services results by country, the impact in Spain was visible but not huge, related to pressure on the financial margin, and they are more constructive for H2. Regarding cost savings in Europe, he stated that the dynamic is strong across the group, with many operational plans being implemented. He noted there is still a good reservoir of savings potential that is widespread across countries, not concentrated in any single one.

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