Carrefour Could Increase Buyback in 2024 -- Market Talk

Dow Jones02-16

1237 GMT - Carrefour could raise returns to shareholders in 2024 thanks to solid cash generation, HSBC Research analysts write in a research note. The French grocer--which is due to publish results for the final quarter of 2023 on Tuesday--could increase its share buyback program to EUR1 billion. In 2022, it launched a share repurchase program of EUR800 million. "Carrefour is shifting closer to best in class in terms of momentum, margin sustainability, [free cash flow] generation and returns to shareholders," the analysts say. The company should see a solid performance in France and a gradual recovery in Brazil during the second half of 2023. Shares are up 0.6% at EUR15.20. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

February 16, 2024 07:40 ET (12:40 GMT)

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