French riots and looting hit supermarket chain Carrefour

French supermarket chain Carrefour is grappling with an "unprecedented situation" in the country due to recent riots and looting, according to the company's CEO. The unrest has forced the business to lower its annual profit margin expectations as curfews and increased security expenses have taken a toll on its operations. Carrefour attributes the problem to waning consumer confidence, which has already been weakened by a spike in fuel prices, and a decline in foot traffic at its stores as the crucial fourth-quarter trading season commences.

Carrefour finance chief Matthieu Malige disclosed to journalists that the direct financial impact of the incidents amounts to several tens of millions of euros. This sum covers stolen or destroyed merchandise, damaged stores, wrecked equipment, and a number of stores compelled to close. Malige explained, "In the weeks to come we will continue to be impacted as some stores have to close earlier due to curfews, and more broadly we think we're in a new situation marked by deep uncertainty for our customers."

Malige revealed that 50 Carrefour stores were directly affected by the riots, while many more were closed in advance of the anticipated violence, including on Sunday and Monday. He declined to provide a total count of the stores shut. The chain has also incurred additional costs due to the necessity of implementing protective measures, such as hiring external security personnel.