Investing.com -- 3i Group shares fell over 4% on Wednesday following a sharp decline in Carrefour stock, which dropped more than 13% after the French retailer cut its full-year financial targets.
Carrefour revised its 2026 guidance downward, citing deteriorating social and security conditions in France that have disrupted store operations and consumer spending. The company now expects recurring operating income margin growth of 0 to 15 basis points compared to its previous target of 25 basis points.
The French retailer also lowered its adjusted earnings per share outlook to stable or slight growth from high single-digit growth, and now anticipates a slight decline in net free cash flow versus previous expectations of slight growth.
Carrefour reported third-quarter sales growth of 2.3% on a like-for-like basis, compared to the 2.1% increase recorded in the first half of 2026. In France, sales increased 1.2% on a like-for-like basis in the third quarter, driven by all formats and benefiting from price investments made earlier in the year.
"The events that have taken place in France over the last few days have affected a significant number of our stores in urban areas and have placed our teams and partners in particularly difficult situations," said Alexandre Bompard, Chairman and CEO.
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