Carrefour lowers 2026 forecasts amid French market challenges

Carrefour has adjusted its financial projections for 2026, anticipating more moderate growth in operating margins. CEO Alexandre Bompard cited an unprecedented situation in France, where consumer spending has been weakened by rising energy costs and high uncertainty regarding store opening conditions.

Following the announcement, Carrefour shares experienced a significant decline of 13.8 percent. Despite the difficulties in the French market, the company reported total gross sales of 22,694 million euros for the third quarter, representing a comparable year-on-year increase of 2.3 percent.

In contrast to the pressure facing traditional hypermarkets in France, Carrefour's operations in Spain have shown resilience. In Spain, comparable sales increased by 2.1 percent, driven by all formats, particularly convenience stores. Analysts note that while the business remains stable in markets like Spain and Brazil, risks persist through fiscal year 2027 due to fragile consumer confidence and excess non-food inventories.