UPDATE 1-Carrefour shares sink after retailer's weak results and cautious outlook [Reuters]
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Source: Reuters
UPDATE 1-Carrefour shares sink after retailer's weak results and cautious outlook | Reuters Reuters Staff 3 Min Read * Forex and charges to weigh on 2018 profit * Shares among worst performers in Europe * Brokers revising down estimates (Adds more analyst comments, updates shares) By Dominique Vidalon PARIS, March 1 (Reuters) - Shares in Carrefour fell sharply on Thursday after Europe’s largest retailer disappointed investors with dismal 2017 earnings, a dividend cut and a cautious outlook for 2018. Carrefour shares were down 6.3 percent by mid-session trading, with the stock among the worst performers on the pan-European STOXX 600 index. Last month, Carrefour a new strategy to boost profit and revenue in the face of the growing threat from the likes of Amazon, but its cautious guidance for this year acted as a wake-up call that the road to recovery would be long. Several brokers revised down their estimates. “The strategic plan announced by the new management is sensible and ambitiou
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