Big loss for Lidl
By Sarah Wood | 15th September 2023
Lidl in the UK made a £75.9m loss in the last year, despite a big rise in sales.
The discount supermarket, which has stores across the county, made a £41.1m profit the previous year, as reported by Retail Gazette.
Over the year to February 28, sales were up nearly 19% to £9.3bn.
Lidl's market share rose from 6.1% to 7.1%, as it attracted an extra 1.4 million customers looking to make savings during the cost-of-living crisis.
But profits were hit by a £100m investment in keeping prices low over the year.
The retailer is committed to keeping prices down in the future 'to ensure that every single household has access to high quality, affordable food at their local Lidl store'.
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