(CercleFinance.com) – Oddo indicates that PGC FLS market share data for P1 (from December 25, 2022 to January 22, 2023) is available (Kantar), and shows a slight increase for Carrefour.
‘ The group gains +0.1% in the supermarket format and +0.1% in convenience, while hypermarkets remain stable, i.e. a total of +0.2%. This level equals that of Leclerc, Aldi and Lidl (+0.2% each). The group is also gaining customers over the period (+320k) and recording strong traffic,” the analyst indicates.
Oddo also points out that the situation is still just as bad for Casino, which lost 0.5% of market share. It is broken down between -0.1% with Monoprix and -0.4% in hypermarkets.
‘We believe that management will insist on a rather difficult H1, and an H2 with a priori less inflation and a more favorable basis for comparison, while the seasonality of H2 historically concentrates nearly two thirds of the ROI’ adds the office of ‘analyzes.
Oddo confirms its Outperformance recommendation and its target of 19 E and considers that the market share dynamic is encouraging.
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