# Carrefour Shares Slide 14% as French Unrest Prompts Outlook Cut

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/36955
Published: 2026-10-21T19:13:08.000Z
Updated: 2026-10-21T19:13:08.000Z
Section: Business

> The retailer lowered its operating-margin and earnings targets and now expects net free cash flow to decline slightly.

Carrefour cut its 2026 profit and cash flow forecasts as unrest disrupted stores in France and weighed on consumer spending, sending the supermarket group's shares down 14% in early Oct. 21 trading.

The retailer now expects operating-margin growth of 0 to 15 basis points, down from its previous target of 25 basis points. It expects adjusted earnings per share to be flat to slightly higher than in 2025, replacing an earlier forecast for high-single-digit growth.

Carrefour also expects net free cash flow to decline slightly after previously projecting modest growth. The cuts come despite a 2.3% increase in third-quarter like-for-like sales at constant exchange rates.

In France, like-for-like sales rose 1.2%. Total French sales including VAT reached $13.4 billion, representing just over half of group sales. The growth rate and sales total measure different things: one tracks sales at comparable stores, while the other covers total sales.

In early Oct. 21 trading, Carrefour was the weakest stock in the Stoxx 600, while France's CAC 40 index rose 0.2%.

Protests over the cost of living in France have included calls for more public-service spending. Some shops were looted or vandalized over the weekend. The unrest has affected Carrefour's store operations and consumer spending, which was already under pressure from higher energy costs, ahead of the year-end shopping period.