Carrefour cuts 2026 profit outlook as France riots hit stores

Carrefour, the French retail giant, has lowered its 2026 profit outlook due to the turbulent social and security climate in France, where riots this weekend damaged numerous stores. The company's chief executive, Alexandre Bompard, highlighted the unprecedented situation, expressing considerable uncertainty regarding consumer spending patterns and whether stores can resume regular operations.

Carrefour's third-quarter sales reached 22.7 billion euros ($25.5 billion), a 2.3% like-for-like increase, which surpassed the estimated 2.1% growth and marked a significant acceleration from the 1.9% growth in the previous quarter. The improvement was fueled by the expansion of Cora stores and price reductions. In France, Carrefour's largest market, like-for-like sales grew by 1.2%, with the expansion of Cora stores and price cuts playing a crucial role.

Despite this, Carrefour now anticipates a zero to 15 basis point increase in recurring operating income for 2026, compared to its previous forecast of a 25 basis point rise.