[1/2] People queue outside Lidl supermarket in Streatham, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 29, 2020.
Lidl GB and rival discounter Aldi UK are Britain's fastest growing grocers, according to market researcher Kantar.
For the 12 months to Feb. 28, 2023, Lidl GB said it welcomed an additional 1.5 million customers, driving revenues up to 9.3 billion pounds, but the company, part of Germany's Schwarz retail group, posted a pre-tax loss of 76 million pounds ($94.97 million).
Lidl GB, Britain's sixth largest supermarket with a market share of 7.6%, has in the past said it is relaxed about its relatively low profitability because of its long-term outlook.
It said in a statement it had the full support of its parent company, adding it has invested 533 million pounds in Britain in the year and opened over 50 new stores.
Persons:
Hannah McKay, discounter, Kantar, Germany's Schwarz, Sarah Young, James Davey, Elizabeth Piper
Organizations:
REUTERS, discounter Aldi, Tesco, Lidl, Thomson
Locations:
Streatham, London, Britain, British, Germany's