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    Frederick Wild

    Vice President and equity research analyst at Jefferies Financial Group Inc.

    Frederick Wild is a Vice President and equity research analyst at Jefferies Financial Group Inc., specializing in pan-European luxury goods and general retail sectors. He covers major consumer and retail companies, including Sainsbury's, Tesco, and Marks and Spencer, providing market-moving insights and recommendations; for example, his recent calls on Sainsbury's have been highlighted in the financial press. Wild joined Jefferies in June 2018, following experience as a researcher for a Member of Parliament, and he is recognized as part of a team delivering holistic, data-driven coverage of 26 companies across the European retail landscape. He holds relevant professional credentials for equity research analysts and is noted for contributing to award-nominated analyst teams.

    Frederick Wild's questions to CARREFOUR (CRRFY) leadership

    Frederick Wild's questions to CARREFOUR (CRRFY) leadership • Q2 2024

    Question

    Frederick Wild asked about the scale of the weather impact during the quarter and how consumer sales responded when weather improved in June and July, both in France and other European geographies. He also inquired about the H2 margin outlook for Europe, asking if it's realistic to expect a flat margin as one-off impacts fade and price cuts are offset by savings.

    Answer

    Executive Alexandre Bompard stated that adverse weather had a major impact on business in most European countries, penalizing seasonal categories like beverages and non-food, and reducing traffic in hypermarkets. He expressed that the impact in H2 couldn't be the same. Executive Matthieu Malige addressed the H2 margin, noting that while one-offs like Romanian integration costs are behind them and purchasing power is restoring, the speed of volume normalization remains uncertain, making a precise guidance on Europe difficult.

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