Carrefour warns of up to €200 million hit from riots and looting
The retailer said unrest hit about 50 stores and could cut operating income by up to €200 million.
- On Tuesday, Carrefour cut its annual earnings forecast, blaming an "unprecedented situation" in France as riots and curfews disrupted operations. The retailer now expects "stable to slight" growth in 2026 adjusted earnings per share.
- Widespread protests over cost of living and education broke out last weekend, affecting over 3,000 stores across France. Carrefour was "directly and strongly affected," with roughly 50 of its locations hit on the first day.
- Finance chief Matthieu Malige said the total impact could be between €80 million and €200 million of operating income. Many of Carrefour's 6,000 stores closed during unrest, while others hired external security guards to protect assets.
- As a result, Carrefour cut its capital expenditure forecast for the year to €1.6 billion from €1.7 billion, reducing investment in France. The retailer had been preparing for Black Friday sales events in the coming days.
- Carrefour CEO Alexandre Bompard said he hopes security improves for protests planned on October 24, though the company anticipates ongoing impacts from curfews and "deep uncertainty" for customers in the coming weeks.
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As a direct consequence, at the opening of the Paris Stock Exchange, the share of France's second major distribution group fell by more than 10% on the Paris Stock Exchange on Wednesday, 21 October.
The Paris Stock Exchange sanctioned the distributor on Wednesday, after the announcement of less ambitious financial targets for next year. ...
The damage amounts to almost one and a half billion kroner for the French supermarket chain Carrefour. The business owners are in tears and torn by the violence.
French supermarket giant's shares plunge 12% after warning ‘unprecedented’ unrest will hit business
The distributor achieved a turnover of almost 22.7 billion euros in the third quarter (up 3.9% over one year, including fuel), driven by a "consumption dynamics (...) that remained solid" in Europe "despite the rebound in general inflation due to the rise in energy costs", according to his press release. But in "this good third quarter succeeds today the deterioration of the social and security situation in France which makes us switch to a new …
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