Lidl's parent company grows strongly

Lidl's parent company grows strongly

Schwarz Gruppe, Lidl's parent company, has had a good fiscal year, with a 10 % increase in turnover. The increase helps it draw closer to the largest European retailers, Carrefour and Tesco. The company will however not reveal any profit figures.

Better than German competition

According to the German media, Schwarz's turnover grew 10 % to 74 billion euro, of which 54 billion euro came through discounter Lidl. The company aims to increase turnover once more next year, to 78 billion euro.

 

Thanks to nearly 10,000 Lidl stores and another 1,150 Kaufland hypermarkets, the company inches ever closer to the largest European retailer, while moving away from its German competitor Metro Group. The latter had a 65 billion euro turnover in its fiscal year 2013.

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