Lidl GB sales rise 10.8% to £13 billion
Lidl GB has increased both sales and profit in the latest financial year, with an additional 43 million customer visits.
The retailer attributed the uplift to investment in price, store expansion and digital innovation.
Subscribe to TRBIn the year to 28 February, revenue rose by 10.8% to £13 billion, while operating profit increased to £345 million from £314 million a year earlier.
Lidl said higher footfall drove a 486 million increase in product volumes, with significant growth across key categories including meat, poultry, fruit and vegetables. Sales of its Deluxe range were also up, rising by 12%.
The retailer invested £315 million in the year in price cuts and promotions such as “Pick of the Week”. It also reached its 1,000th store milestone, opening more than 40 new stores while investing £43 million in upgrades to more than 70 existing sites.
Lidl is continuing its rapid expansion this year with more than 50 new stores opening as part of a £600 million investment.
Ryan McDonnell, Lidl GB chief executive, said: “Our performance is a clear testament to the trust that millions of customers place in us every week as a direct result of the dedication of our colleagues right across the country.
“As we grow, our focus doesn’t shift – we’re constantly investing in low prices, high quality, and maximum value for our customers.”
