- Carrefour performed well in 2020, but this was also driven by changes in consumer behaviour.
- 2021 will be the real test as the cost savings program should yield results.
- Carrefour is aiming for 1B EUR in free cash flow this year, which would make the stock cheap.
- Between now and 2023, Carrefour thinks it can cut costs to the tune of 2.4B EUR per year.
- Should Carrefour be able to meet its 2021 and 2023 guidance, the stock is cheap but I'm applying the 'wait and see' method: I need to see confirmation before building a position.
For further details see:
Carrefour: An Improved Performance In 2020, And An Even Stronger Guidance For 2021