Lidl GB aiming to reach 1,100 stores within four years

Business is booming for Lidl and the retailer is planning to open hundreds of new stores in Great Britain over the next few years.

Lidl GB has set a new store target of 1,100 stores by the end of 2025, creating 4,000 new jobs.

The German discounter currently has over 26,000 employees, more than 880 stores and 13 distribution centres in England, Scotland and Wales. It said it is on track to reach 1,000 stores by the end of 2023.

The additional 100 new stores will be in town centres, retail parks and metropolitan locations across England, Scotland and Wales.

“Our new store target today marks a significant investment for the business,” said Lidl GB chief executive Christian Härtnagel. “We remain committed to our bricks and mortar strategy and maintaining our store opening pace; roughly a store a week for the next four years.”

The announcement came as the company released its annual results, showing a 12% increase in revenue to £7.7bn in the 12 months to the end of February 2021 and a pre-tax profit of £9.8m, compared with a pre-tax loss of £25.2m in the previous year.

Lidl has a 6.2% share of Britain’s grocery market.