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CARREFOUR SA

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Carrefour : Taiwan urges no panic buying as new COVID-19 rules kick off

05/16/2021 | 02:52am EDT

TAIPEI, May 16 (Reuters) - Taiwan appealed to people to avoid panic buying of items such as instant noodles and toilet paper as new curbs on gatherings and movement took effect to rein in the spread of COVID-19 during a spike in domestic infections.

Taiwan raised its coronavirus alert level in the capital, Taipei, and the surrounding city, on Saturday, imposing two weeks of restrictions that will shut many venues and limit gatherings. It reported 206 new domestic infections on Sunday.

While total infections since the pandemic began remain low at 1,682, the recent community transmissions have alarmed a population that had become accustomed to life staying close to normal, with no full lockdowns of the kind seen elsewhere.

In messages late on Saturday, the president, premier and economy ministry took to Facebook to say there was no need to hoard or rush to the shops, after people scrambled to stock up on basic goods, mainly instant noodles and toilet paper.

"After more than a year of preparation, the country's anti-pandemic materials, civilian goods and raw materials are sufficient, and the stores are also operating as usual to replenish goods," President Tsai Ing-wen said.

French supermarket chain Carrefour said it was limiting purchases of items such as masks and instant noodles in its Taiwan stores, asking people to buy only what they need.

The economy ministry showed pictures of warehouses piled to the ceiling with boxes of instant noodles, saying supplies were "like a mountain" with plenty of toilet paper and canned food to go round as well.

Premier Su Tseng-chang made a similar appeal on his Facebook page. He triggered amusement early last year, during a previous rush for toilet paper, by saying people "only have one butthole" and should calm down.

While not ordering a total lockdown, the government is urging people to stay at home as much as possible.

The health ministry brought out its dog mascot, a shiba inu called Zongchai, to reinforce the message on social media.

"Study Zongchai and stay at home," it said, showing pictures of the canine lying on the floor resting.

(Global vaccination tracker: https://graphics.reuters.com/world-coronavirus-tracker-and-maps/vaccination-rollout-and-access/)

(Reporting by Ben Blanchard; Additional reporting by Ann Wang; Editing by Clarence Fernandez and Jacqueline Wong)


ę Reuters 2021
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Financials
Sales 2021 71 393 M 84 806 M 84 806 M
Net income 2021 1 042 M 1 238 M 1 238 M
Net Debt 2021 7 140 M 8 482 M 8 482 M
P/E ratio 2021 13,3x
Yield 2021 3,23%
Capitalization 13 622 M 16 149 M 16 181 M
EV / Sales 2021 0,29x
EV / Sales 2022 0,27x
Nbr of Employees 278 511
Free-Float 75,0%
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Mean consensus BUY
Number of Analysts 18
Average target price 19,13 €
Last Close Price 16,86 €
Spread / Highest target 24,6%
Spread / Average Target 13,5%
Spread / Lowest Target -2,11%
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Managers and Directors
NameTitle
Alexandre Bompard Chairman & Chief Executive Officer
Matthieu Malige Chief Financial Officer
Miguel ┴ngel Gonzßlez Gisbert Global Chief Technology Officer
Charles Edelstenne Independent Director
Mathilde Lemoine Independent Director
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