The unrest has also driven up Carrefour’s operating costs, compounding the impact of weakening consumer sentiment amid soaring energy prices. (File pic)PARIS: Carrefour, France's largest publicly traded retailing group, saw its shares drop more than 13% Wednesday after it warned that the recent violent protests across France would dent profits.
Chief executive Alexandre Bompard said around 50 Carrefour stores were looted over the weekend, and it expects operating profit will be cut this year by 80 million to 200 million euros (US$90-US$225 million) as a result.
That could represent up to 60% of its operating profit in the fourth quarter, when year-end holiday spending usually generates significant revenue, analysts at Jefferies said.
