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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Aimed at by the looting of 17 October in some fifty of its stores, the retail brand saw on Wednesday its action fall by more than 10% after the lowering of its goals 2026. Its CEO, Alexandre Bompard, points to the deterioration of the social and security situation in France and its effects on consumption.
Four days after the chaos of France, the CEO of Carrefour was the guest of France Inter. Alexandre Bompard, who had already quantified the lootings in hundreds of millions of euros," revealed what had been the most stolen, and it had nothing to have with "the purchasing power," he lamented.
The chain bills 2.3% more with its Spanish subsidiary, but cuts forecasts
The group revised downwards the growth estimates for 2025. L'ad Bompard: "Unprecedented situation in France, uncertainty also about the opening conditions of the points of sale"
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