Carrefour shares fall 15 amid profit forecast cuts

Carrefour has become the first retail company to reveal the financial impact of the recent riots in France. The CEO announced that the damages have led to a decline in sales, reduced working hours, and increased security costs, potentially hurting the company's profits by approximately 200 million euros ($225 million). Around 50 stores were attacked and looted during the riots, which were sparked by protests against rising living costs. The unrest has contributed to a deteriorating economic situation, with Carrefour's stock price dropping as much as 15%, the largest decline since 2017. The ongoing protests are affecting consumer spending and economic growth, especially as violent acts and store closures continue, putting pressure on local businesses and hindering France's economic recovery.

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