Alexandre Bompard, CEO of Carrefour, looks back on the acts of vandalism and looting that affected several of the group’s stores. He estimates the losses for this quarter at between 70 and 200 million euros compared with forecasts….and points out that the thefts mainly concern strong spirits, very far from the fantasy of food insecurity behind the looting.
But beyond that, Bompard gives us a real lesson in “political” economics and “plain” economics, something many people have trouble understanding, whether they are on the right or the left.
At my small level, with certain clients in France, I notice the same thing along the way: an under-consumption “that nothing really explains.”
The economy is a question “of climate” above all.
A country whose inhabitants are confident in the future sees its businesses prosper.
A country that retreats into fear, battered by current events, no longer consumes.
And there is also a self-fulfilling effect there that has been widely demonstrated: the pessimism maintained by everyone helps kill the economy, which reinforces the pessimism… etc., in a form of vicious circle.
Typically, the government, by not understanding that it is more important to lower social tension than to be right, mechanically causes major losses for the economy.
That is why they are mediocre and why an Emmanuel Macron is an absolute tartuffe, full of himself, who has never understood anything about his role.
His posture, which we saw at the time of the Yellow Vests, at the time of COVID, etc., causes direct and very tangible losses.
You may have already experienced it in business: some people are “absolute” dead weights and everything gets better again when they leave.
It should be the same with Macron.
There were the Yellow Vests, there was COVID and now the riots…
It is the third time that his own way of managing a conflict has caused massive losses for the French economy.
LinkedIn Sources
- LinkedIn conversation: view the post
- Profile: Pierre Jean Duvivier dit Sage (LinkedIn)
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Frequently Asked Questions
Here is a list of FAQs based on Alexandre Bompards statements regarding the vandalism and looting affecting Carrefour stores
1 What happened to Carrefour stores recently
Several Carrefour stores were damaged by vandalism and looting This happened during a period of unrest in France
2 How much money did Carrefour lose because of this
Alexandre Bompard the CEO estimates the losses for this quarter at between 70 and 200 million euros
3 Who is Alexandre Bompard
He is the CEO of the Carrefour group He is the one who announced these loss estimates to the public
4 Why is there such a big range in the loss estimate
The final number is not yet confirmed The range depends on how much damage was done to the buildings and how much revenue was lost while stores were closed or recovering
5 Which stores were affected
Several stores across the group were affected The damage was part of a wave of vandalism and looting that hit various retail locations
6 Does this mean Carrefour is in financial trouble
No While 200 million euros is a significant amount Carrefour is a very large global company This is a quarterly loss estimate not a threat to the companys existence
7 What is looting
Looting is when people steal goods from a store during a chaotic event like a riot or a disaster often breaking in or taking advantage of the situation
8 What is vandalism
Vandalism is the act of deliberately damaging or destroying property that belongs to someone else
9 How does this affect regular customers
Some stores may be closed for repairs Customers might also see higher security or empty shelves in the affected locations
10 What is Carrefour doing about the losses
The company is assessing the damage and working with insurance companies They are also repairing stores to get them open again as soon as possible
11 Will prices go up because of these losses
It is unlikely that these specific losses will cause a direct price hike for customers Carrefour operates in a competitive market and sets prices based on many factors not just one quarters losses
12 What does quarter mean in business
A quarter is a threemonth
