Lidl GB sinks to £76m loss as costs and staff wages rise
Daily MailThe British arm of German discount supermarket Lidl sunk to a £75.9million loss in its last fiscal year, having been stung by higher costs and wages. Loss: The British arm of German discount supermarket Lidl sunk to a £75.9m loss in its last fiscal year, new results show The group's latest annual loss compares to a profit of around £41.1million the previous year. Lidl GB, Britain's sixth largest supermarket with a market share of 7.6 per cent, also attributed the loss to investments made during the year, including opening over 50 new stores, and spending £50million on hourly wage increases. However, Lildl said today that in its last fiscal year its market share increased from 6.1 per cent to 7.1 per cent, claiming it enjoyed 'the most rapid growth experienced by the discounter over the past five years.'
History of this topic
Lidl swings to annual loss amid battle to keep prices low as costs surge
The Independent
Tesco fightback sees Aldi and Lidl lose ground in the battle for British shoppers
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Lidl pledges to open one new store per week between now and Christmas
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