Schwarz Group, the German firm that owns the Lidl and Kaufland chains, saw total sales from its more than 13,300 stores around the world increase 6.6% to €133.6bn over the year to 28 February 2022.
Kaufland’s sales rose by 7.4% to €27.3bn, while Lidl’s were up 4.7% to €100.8bn. Total online sales came out at €1.7bn.
The group revealed that investments in fixed assets for the core business amounted to roughly €8bn and were dedicated primarily to store expansion, modernisation programmes, and the digitalisation of the business.
The robust figures come at a time when discounters are prospering as shoppers look to save money amidst the cost of living crisis.
NAM Implications:
- Lidl UK is approximately 9% of global Lidl.
- Aldi UK is approximately 14% of global Aldi.
- Each can afford to undercut the mults at the expense of their global operations.
- For as long as it takes to grow and optimise their share of UK grocery!
