Carrefour shares plunge nearly 13% as French riots force forecast cut

The nearly 13 percent decline is the largest since the 2020 pandemic shock and erases almost all of the stock’s gains for the year.

“Our group is facing an unprecedented situation in France,” CEO Alexandre Bompard says.

Turmoil in France has subsided since curfews were imposed in parts of Paris and other French cities, but concerns about renewed violent riots are high after activists called for new protests on Saturday.

Carrefour estimates the cost of the riots at just over two billion kronor. Around 50 of the chain’s stores were attacked on Saturday. Many were looted and severely vandalized.