Stock Movers: Puma Plunges, Remy Cointreau Rises, Carrefour Sells Italian Operations

Puma's Profit Warning

• 📉 Puma shares experienced a significant drop due to a lowered profit forecast, attributed to weak demand for sports and athleisure products.
• ⚠️ The company cited the impact of tariffs, estimating a hit of approximately 80 million euros to gross profits.
• 💡 This setback affects the new CEO, Arthur Holder, who faces the challenge of turning around a brand that has been underperforming competitors like Adidas and Nike.

Remy Cointreau's Improved Outlook

• 🥂 Remy Cointreau raised its profit guidance, driven by a rebound in Cognac sales in the US.
• 🇨🇳 The company managed to avoid the most severe impact of tariffs in China by agreeing to a minimum price level, limiting the effect to a maximum of 10 million euros.
• ⚠️ Despite this positive development, potential US tariffs could still result in a 35 million euro hit, and broader economic uncertainties continue to weigh on spirit sales.

Carrefour's Strategic Divestment

• 🛒 Carrefour announced the sale of its Italian operations to Italian food company New Princes for an enterprise value of approximately 1 billion euros.
• 💰 This divestment is expected to have a positive impact on the group's net free cash flow, as Italy was a drag on earnings and generated over 180 million euros in negative cash flow last year.
• 📈 The sale is part of a strategic review aimed at improving the company's valuation, with potential for further asset disposals.
• ✅ Carrefour also reported strong second-quarter sales that beat analyst estimates, defying expectations of a decline in France.