Lidl has revealed its sales jumped by more than a 10th across its UK stores last year as it got a boost from the “Deluxe” range and attracted millions more shoppers.
The British arm of the German discounter reported revenues of £13 billion for the year to the end of February, an increase of 10.8% compared with the previous financial year.
This was helped by a 12% year-on-year increase in sales of its Deluxe range – the supermarket’s own-label collection of more premium food, home and beauty products.
The group’s operating profit lifted to £345 million from £314 million the year before, the newly-published accounts show.
Around 43 million more customers visited its shops during the year, which Lidl attributed to its investments in lowering prices and expanding its chain of shops.
Lidl overtook Morrisons in May to become the fifth-largest grocery chain in the UK, according to Worldpanel by Numerator data.
This article was written by Anna Wise from The Evening Standard and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.