Carrefour lowers 2026 profit expectations amid French unrest
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Carrefour (CRRFY) cut its 2026 profit outlook as riots, looting, and curfews in France disrupted store operations, reduced customer traffic, and increased security and logistics costs.
The French supermarket group now expects adjusted earnings per share to remain stable or increase slightly in 2026, compared with its previous forecast for high-single-digit growth. It lowered its target for operating margin expansion to zero to 15 bps from 25 bps and expects net free cash flow to decline slightly from 2025 levels.
The retailer also cited uncertainty over consumer spending as it enters the crucial year-end shopping period.
Around 50 Carrefour (CRRFY) stores were directly affected by the unrest, with some outlets looted or damaged. Other stores were closed anticipating further disturbances, while curfews forced some locations to shorten their opening hours. The company has also increased spending on security measures.
The company also plans to reduce its capital expenditure in France to €1.6 billion for 2026, from its previous target of €1.7B.
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