Carrefour cuts 2026 profit outlook as unrest hits French stores

what happened

French supermarket group Carrefour has lowered its 2026 profit outlook. The company blamed riots, looting and curfews in France, which disrupted store operations, reduced customer traffic and raised security and logistics costs, according to Seeking Alpha.

Under the revised guidance, adjusted earnings per share are now expected to stay stable or rise slightly, down from the earlier forecast of high-single-digit growth. The target for operating margin expansion was cut to zero to 15 bps from 25 bps, and net free cash flow is expected to decline slightly from 2025. Carrefour also flagged uncertainty over consumer spending ahead of the crucial year-end shopping period.

About 50 Carrefour stores were directly affected by the unrest, some looted or damaged. Others closed in anticipation of further disturbances, and curfews forced some locations to shorten opening hours. Capital expenditure in France for 2026 was reduced to 1.6 billion euros from 1.7 billion.

why it matters

The story matters for the European consumer sector, as it shows how social unrest can hit retail revenue and margins directly. Investors will watch sales trends through the year-end season for signs of how much demand has been lost.

market impact

French retail: unrest weighs on store traffic and margins, pressuring Carrefour shares

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