Ruter report that electricals retailer Kesa (Comet) will carry out a share buyback but it is too soon to detail the structure of the deal, Chief Executive Jean-Noel Labroue said on Wednesday.
Kesa, owner of French store group Darty, was also confident of meeting analyst estimates for this year despite difficult trading conditions on the back of the consumer credit squeeze.
In the six weeks since January 31 group like-for-like sales were flat compared with 3 percent growth for the 12 months of last financial year, Labroue told reporters.
“The negative cycle will not last for long,” Labroue said on a conference call following its full-year results announcement.