Lidl saw its operating profit increase by 10 per cent to £345m, and revenue jump by 10.8 per cent to £13bn in the year to February. The discount grocer attributed this growth to an additional 43m shopping trips.
The company stated it has significantly increased investment in its Lidl Plus loyalty scheme, which led to a 23 per cent rise in users during the same period. Lidl believes the scheme is driving more customers to its stores.
Lidl invested £315m in price-cuts and promotions. The supermarket also opened 40 new stores and upgraded 70 existing shops, investing £43m in improvements such as self-checkouts and energy-efficient lighting.
Looking ahead, Lidl announced in April its intention to open more than 50 new supermarkets in the year to February 2027, as part of a £600m investment. This expansion will continue despite a provisional decision by the Competition and Markets Authority (CMA) to end an exemption that allowed Lidl and Aldi to restrict rivals from opening nearby stores.