French retail giant Carrefour lowered its 2026 full-year forecast due to the impact of riots, looting and curfews in France. The reduction in operating profit is expected to reach up to €200 million, and the capital expenditure target was also lowered.
On the 20th, Carrefour lowered its 2026 full-year forecast in light of riots, looting and curfews in France. Store closures and higher costs for theft and security measures weighed on results, and management described the situation as unprecedented.
Under the new outlook, adjusted EPS for 2026 was lowered from high-single-digit growth to flat to slight growth, while free cash flow is expected to decline slightly from 2025. Group-wide capital expenditure was reduced from €1.7 billion to €1.6 billion, while the €1.0 billion cost-cutting target was maintained and other strategic policies were left unchanged.
Domestic and international sales remained firm in the third quarter, with revenue of €2.2694 billion, up 3.9% year on year. Like-for-like sales rose 2.3%, food sales increased 2.7% and non-food sales declined 1.1%. In key markets, sales rose 1.2% in France, 2.1% in Spain and 1.4% in Brazil, while e-commerce grew 18%. The impact is expected to continue for several weeks, including measures to reopen affected stores.