The Carrefour group has reported Q1 sales of 22 billion euros, up 12.3% on a like-for-like basis.

On a like-for-like basis (i.e., excluding petrol and the calendar, and at constant exchange rates), sales rose by 7.1% in France (€10.2 bn), by +8.8% in Europe (€6 bn) and by 26% in Latin America (€5.8 bn).

' Against a backdrop of very high food inflation in the majority of its markets, Carrefour is staying the course and maintaining a strong sales momentum, with solid performances in terms of market share in all its key countries', stresses Alexandre Bompard, Chairman and CEO.

The first few months of the year have confirmed the relevance of our main strategic pillars, with strong growth in sales of own-brand products, which are enjoying excellent customer support", he adds.

Against this backdrop, the Group confirms its financial targets for 2023: growth in EBITDA, recurring operating income and net free cash flow.

Carrefour also states that it has initiated its €800m share buyback program, with €200m realized to date

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