Carrefour Hits 2020 Low as Taxation Prompts Buyback Halt
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Carrefour SA shares tumbled to their lowest level in more than four years on Thursday, after the grocer reported disappointing profit and announced it won’t implement a buyback because of French taxes on share repurchases.
Operating income was €2.21 billion ($2.3 billion) last year, Carrefour said late Wednesday, below analyst estimates. It expects “slight growth” in Ebitda, recurring operating income and net free cash flow, guidance that analysts said was worse than anticipated.