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Lidl GB sales rise more than 10% to over £13bn
The retailer said it spent £315m on price cuts and promotions, and pre-tax profit at its Great Britain arm rose 30% to £245.5m for the year ended in February.
Lidl’s Great Britain business said sales jumped by more than 10% to more than £13bn this year, helped by demand for cheaper fresh meat, fruit, and vegetables, along with increased take-up of its Deluxe range, The Guardian reports.
The company also pointed to rising food inflation as shoppers shifted toward discounters, with in-store prices stepping up to an annual rate of 1.5% in August.
Pre-tax profit at Lidl GB grew by 30% to £245.5m for the year ended in February, up from £156.8m the prior year.
Lidl said it spent £315m on price cuts and promotions, including its “pick of the week” product, while inflation for fresh produce remained elevated at 3%.