Carrefour Cuts 2026 Profit Outlook as France Riots Hit Stores

3-line summary

• Carrefour on Tuesday lowered its operating-margin growth target and free-cash-flow goal for 2026; it now expects operating margin to expand 0-15 basis points versus 2025, down from a prior forecast of 25 basis points of expansion, while still expecting recurring operating income to grow in 2026. The specific size of the free-cash-flow target cut was not disclosed.
• Multiple Carrefour stores in France were damaged in weekend riots; the report did not specify the number of affected stores or the monetary damage, but CEO Alexandre Bompard said the company faces an unprecedented situation in France, citing significant uncertainty over consumption patterns and whether stores can operate normally.
• Carrefour cited worsening French social and security conditions from the riots, along with high energy costs weighing on consumer spending; third-quarter revenue was 22.7 billion euros (about $25.5 billion), with like-for-like sales up 2.3%, beating the 2.1% analyst consensus and accelerating from 1.9% in Q2-France, its largest market, posted 1.2% like-for-like growth, helped by Cora store expansion and price cuts.

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