Riots: Unrest in France: Carrefour retail chain cuts forecast

Paris. The French supermarket chain Carrefour has lowered its forecasts for the full year due to the unrest in France. From the company's perspective, the unrest is keeping customers away, undermining consumer confidence and increasing costs.

“Our group of companies is faced with an unprecedented situation in France,” said CEO Alexandre Bompard, according to the statement. There is “great uncertainty” regarding the development of consumer spending and the conditions under which the company's own branches can reopen, he warned. “As we now enter the crucial year-end period for retail, this situation is having a significant impact on consumer spending - which is already under pressure from rising energy costs,” he said.

Adjusted earnings per share are expected to remain stable or grow slightly this year, the company announced in Paris. The retailer had previously expected “high single-digit growth”. Carrefour also cut its targets for 2026 with a view to, among other things, the recurring operating profit margin and capital expenditure.

At the weekend, nationwide protests against the high cost of living in France were accompanied by serious riots and looting. The situation, for example in Paris, also remained tense on Monday night. After the serious riots, localized curfews were imposed. The yellow vest protest movement called for new demonstrations this Saturday. French Prime Minister Sébastien Lecornu announced an extensive police mobilization.