Abattoir (Slaughterhouse) by Eli Lotar, 1929 in Documents, No. 6, 1929.

The things leaning against the wall are sides of beef; however, from a distance they also appear to be young women in white dresses facing the wall.

Lotar received much notoriety for his Slaughterhouse photos.

I do not know what PICHARD means. Google Translate is coming up empty. If you know please let me know.

UPDATE

Akio writes:

City gorged with Dreams: Surrealism and Documentary Photography in Interwar Paris by Ian Walker.

Page 127:

“It depicts a row of cow’s hooves…”

Not sides? - it looks hooves.

With the name PICHARD repeated twice, presumably that of trader whose property now they are…

Picard is a common last name in France, it seems…

Another anonymous responder also clarified:

Pichard is a name. Lots of ads were painted on the walls in France at the beginning of the XXth century. It might be an ad for the Pichard & Sons butcher, baker, or wathever, but most likely an ad.

Many thanks!