Lidl’s branch in Putney
(Picture: Lidl)Lidl Great Britain returned to profit in the year to February, the grocer said as it unveiled plans to further expand its UK store empire and create 4000 new jobs.
The German discounter’s GB arm employs some 26,000 people here and has around 860 branches, of which more than 100 are in London.
It today said it is on track to reach 1000 shops by the end of 2023 and wants to reach 1100 branches by December 2025.
During the year it was classified as an ‘essential’ retailer and allowed to stay open during lockdowns.
Ahead of the coronavirus crisis the retailer recorded a £25.2 million pre-tax loss after heavy investments into the business.
But new accounts show in the 12 months to February 28 2021 it recorded a pre-tax profit of £9.8 million and revenues improved 12% to £7.7 billion.
Lidl GB CEO Christian Härtnagel said: “Looking ahead, we remain confident on our strategy, our stores-first approach.”
