The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print operations, television, radio broadcasting,
digital and online services. The Standard Group is recognized as a leading
multi-media house in Kenya with a key influence in matters of national and
international interest.
Carrefour, Europe’s largest food retailer, said it would buy back up to 500 million euros ($601.40 million) of its shares this year, reflecting confidence in the success of its turnaround plan following a strong first quarter.
Carrefour, which last month agreed to buy Brazil’s third-biggest food retailer Grupo BIG for about $1.3 billion, also maintained its financial and operational targets under its ‘Carrefour 2022’ strategic plan.
First quarter sales reached 18.56 billion euros, marking like-for-like growth of 4.2 per cent and reflecting robust food sales in the key markets of Brazil, France and Spain.
In France alone, sales growth reached 3.5 per cent in the first quarter and growth remained solid during the first weeks of April, including in hypermarkets.
Carrefour and food retailers across the world have been benefiting from demand generated as COVID-19 related lockdowns force consumers to stay at home.