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Carrefour lowers its 2026 targets after the 17 October violence and curfews

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AT A GLANCE

The retail giant lowered its annual targets on 20 October. The impact of the violence on its stores and results.

Photo of a Carrefour store in France (archive photo)
TCY · CC BY-SA 4.0
In this article

The essentials

Carrefour lowered its 2026 targets on 20 October, citing the deterioration of the social and security situation: violence, looting and curfews.

The new targets

Recurring operating margin would rise by 0 to 15 basis points, against +25 targeted in July. Adjusted net income per share would be stable or slightly up, whereas high single-digit growth had been expected. Investment is cut from €1.7 to €1.6 billion, with works postponed in stores in France.

The scale of the damage

On France Inter, Alexandre Bompard said about 50 of the group’s stores had been vandalised and looted; according to him, it was mainly strong spirits intended for trafficking that were stolen. According to franceinfo, losses would be between €80 and €200 million; financial dispatches mention direct costs of “several tens of millions of euros” according to the finance director. The gap calls for caution.

Sales are rising

In the third quarter, like-for-like sales rose 2.3% to €22.69 billion; in France, +1.2% to €11.90 billion. Alexandre Bompard considers the purchasing-power demands legitimate but not the vandalism or looting, and says what shopkeepers expect is security.

Other businesses

Carrefour is not alone: CCI France estimates that more than 2,000 businesses were directly affected, for hundreds of millions of euros. On the 19th the government brought shopkeepers, banks and insurers together at Bercy. The routes to compensation (insurance, claims against the State) are detailed in the 19th’s article.

To keep in mind

The loss amounts vary between reports. This article is based on financial dispatches and on franceinfo.

LANGUAGE NOTES

Learn the grammar

Explained in English

French grammar

Learn sentence patterns and usage from the article’s own sentences.

01The present indicative
Structure

est / sont + attribute (noun, adjective, prepositional phrase)

In the article
Alexandre Bompard juge les revendications sur le pouvoir d’achat légitimes mais pas le vandalisme ni les pillages, et dit que ce que les commerçants attendent, c’est de la sécurité.
Key points

Être in the present is est for a singular subject and sont for a plural one. It describes nature, state or place (“is”, “is located”). If what follows (the attribute) is a noun, adjective or prepositional phrase, it is not a passive. If a past participle follows, it is a passive (est annoncé). Headlines and summaries often use the present to describe the current situation.

02The passé composé
Structure

present of avoir + past participle

In the article
Le géant de la distribution a abaissé le 20 octobre ses objectifs annuels.
Key points

The passé composé is the most common past tense, used for “did” and “has done” — actions completed in the past. It is formed with the auxiliary avoir (a / ont…) in the present + a past participle. Past participles of -er verbs end in -é (annoncer → annoncé); learn the irregular ones (faire → fait, prendre → pris, voir → vu). In the negative, ne … pas wraps the auxiliary (n’a pas annoncé). In the news it reports facts that have already happened, such as “announced” or “voted”.

03The imparfait
Structure

stem (nous form of the present) + -ais / -ait / -ions / -iez / -aient

In the article
Le résultat net ajusté par action serait stable ou en légère hausse, alors qu’une croissance à un chiffre élevé était attendue.
Key points

The imparfait describes states, background, habits and actions in progress in the past (il était, elle avait, ils pensaient). Take the nous form of the present, drop -ons, and add -ais / -ais / -ait / -ions / -iez / -aient. If the passé composé gives “the event itself”, the imparfait paints “the situation at the time”.

04The present conditional
Structure

stem (infinitive) + -ais / -ait / -ions / -iez / -aient

In the article
La marge opérationnelle courante progresserait de 0 à 15 points de base, contre +25 visés en juillet.
Key points

The conditional expresses possibility, supposition, unconfirmed information and polite requests (“would”, “might”). It uses the same stem as the future and the same endings as the imparfait (-ais, -ait, -ions, -iez, -aient): pouvoir → il pourrait. In the news it is used to avoid asserting, as in “is reported to…” or “there is a possibility…”.

05The passive voice in the present
Structure

être (est / sont) + past participle (+ par / de)

In the article
Le résultat net ajusté par action serait stable ou en légère hausse, alors qu’une croissance à un chiffre élevé était attendue.
Key points

The passive means “is done” or “is being done”. It is formed with être + past participle, which agrees with the subject in gender and number (la mesure est adoptée / les mesures sont adoptées). The agent is introduced by par (or de). In the news it is common when the event, rather than the actor, is the focus (est prévu / est annoncé / est connu).

06The passive in the passé composé
Structure

a / ont été + past participle

In the article
Sur France Inter, Alexandre Bompard a indiqué qu’environ 50 magasins du groupe ont été vandalisés et pillés ; selon lui, ce sont surtout des alcools forts destinés au trafic qui ont été volés.
Key points

The past passive means “was done”. Its form is present of avoir + été (past participle of être) + past participle. Été does not change, but the last participle agrees with the subject in gender and number (la loi a été votée / les textes ont été votés). It is frequent in news reporting results such as votes, decisions and announcements.

07Negation and its scope
Structure

ne / n’ … pas · ne … plus

In the article
Carrefour n’est pas seul : CCI France estime que plus de 2 000 commerces ont été directement touchés, pour des centaines de millions d’euros.
Key points

Normally ne and pas wrap the verb. Before a vowel, ne becomes n’. Check which part of the sentence the negation covers. Ne … plus means “no longer”.

08Citing a source with selon
Structure

selon + noun / organisation

In the article
Sur France Inter, Alexandre Bompard a indiqué qu’environ 50 magasins du groupe ont été vandalisés et pillés ; selon lui, ce sont surtout des alcools forts destinés au trafic qui ont été volés.
Key points

Selon means “according to”. Put a person or organisation after it as the source. It separates facts the writer checked directly from what another body or report said. Citing a source does not turn a forecast into an accomplished fact.

09The subject relative pronoun qui
Structure

noun + qui + verb

In the article
La « marge opérationnelle » mesure la part du chiffre d’affaires qui reste en bénéfice d’exploitation.
Key points

Qui continues a description of the person or thing just mentioned (“the one that does…”). Because qui is itself the subject of the next verb, do not repeat the subject. The verb agrees with the noun qui refers to.

10Delimiting an interval
Structure

de … à … / du … au …

In the article
La marge opérationnelle courante progresserait de 0 à 15 points de base, contre +25 visés en juillet.
Key points

De…à… shows the start and end, “from … to …”, and is also used for changes in figures. With dates, de + le becomes du and à + le becomes au, giving forms like du 13 au 15. Check whether the interval concerns dates, times or amounts.

11Dates and their prepositions
Structure

le + 日付 / du … au …

In the article
Le géant de la distribution a abaissé le 20 octobre ses objectifs annuels.
Key points

Le 15 octobre means “on 15 October”. Distinguish the le before a date from the le that marks a weekly habit like a weekday. Du is de + le and au is à + le, so decide the meaning from the verb and period expressions around them. Their role depends on the group: a range of dates, the date of a bulletin or another complement.

Explained in English

Japanese grammar

Understand the structure and usage from the text.

01Citing a source: によると
Structure

noun + によると

In the article
損失は、franceinfoによると、80〜200百万ユーロの見込みです。
Key points

As in “LCPによると”, it shows where the information comes from. What that source reported follows. It is used differently from “私にとって”, which gives one’s own opinion.

02Plan, outlook and policy
Structure

〜の予定 / 〜見込み / 〜方針

In the article
1株あたりの調整後の純利益は、前年と同じか、わずかな増加を見込みます。
Key points

予定 is a plan, 見込み a forecast and 方針 a course of action or intention. None of them asserts that something has already been carried out. Note the difference from expressions such as “決まりました”.

03Polite negation and plain form
Structure

〜ではありません / 〜ではない

In the article
カルフールだけではありません。
Key points

They negate a noun and similar content. “ではありません” is the polite form and “ではない” the plain form. “成立ではありません” shows that it cannot be said to have been concluded.

04Indicating the subject: について
Structure

noun + について

In the article
保険や、国への請求による補償の方法については、19日の記事にまとめています。
Key points

As in “予算について”, it shows the topic to be talked about or explained. In the form “〜についての報道”, の is added so that the group qualifies the following noun.

05Giving examples with など
Structure

noun / expression + など

In the article
ロイターなどの速報では、財務責任者が、直接の費用を「数千万ユーロ」と説明したと伝えています。
Key points

“暴言など” gives “abusive language” as one example. It is not necessarily a closed list of only the things named. It also helps when reading the scope of a news story.

06The polite past ました
Structure

verb stem (連用形) + ました

In the article
小売大手のカルフールが、20日に、今年の目標を下げました。
Key points

In “発表しました”, ました makes a verb polite past. The negative is “ませんでした”. Read the actual date together with the date and time in the text.

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