Joe Biden wrote a tweet encouraging people to support the campaign to support Stop and Shop workers, based on the claim that Stop and Shop‘s parent company has bought back billions of dollars worth of shares.
In the last 5 years, @StopandShop's parent company has bought back billions of dollars in stock. Now they want to cut employee wages & benefits. This is wrong. I stand with the 31,000 @UFCW workers fighting for their healthcare. Join me and support them: https://t.co/D4baO7D5xH
— Joe Biden (@JoeBiden) April 12, 2019
“”In the last 5 years, StopandShop’s parent company has bought back billions of dollars in stock””
Fact Check 1: True
Stop and Shop has been owned since 1995 by Dutch supermarket group Ahold which merged with Belgian Delhaize Group in 2015. According to a press release by Ahold Delhaize, it has returned EUR 3 billion in share buybacks since the merger and will return a further EUR 1 billion in 2019, equivalent to about $4.5 billion.