- Carrefour has lost £1.36bn in market value after its share price plummeted by 14 per cent following widespread riots and looting across France.
- The supermarket chain expects direct costs in the tens of millions of euros due to damaged equipment, stolen merchandise, and increased security expenses across up to 50 affected stores.
- Financial guidance for the year ahead has been cut as ongoing curfews, early store closures, and weakened consumer confidence continue to impact operations.
- Analysts noted that Carrefour may also be using the crisis to account for broader structural sales slowdowns in key international markets such as Spain and Brazil.
- Following the profit warning, major financial institutions including Morgan Stanley and JPMorgan downgraded their investor ratings and price targets for the company.
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