Yahoo Finance Lidl to open 1,100 stores across UK
Supermarket chain Lidl plans to open 1,100 stores in the UK by the end of 2025 in a move that it said will create 4,000 new jobs, after benefitting during the pandemic from is position as an 'essential' retailer.
Lidl had earlier said it wanted to hit a target of 1,000 stores by the end of 2023.
The additional 100 new stores will be across England, Scotland and Wales and will feature solar panels and electric vehicle charging points.
“Our new store target today marks a significant investment for the business,” said CEO 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.”
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The move comes as the chain published its accounts for the year to end of February at Companies House, showing sales rose 12% to £7.7bn ($10.3bn) and pre-tax profits hit £9.8bn, compared with a £25.2m loss a year earlier.
The accounts also show that Lidl opened 55 stores during the first year of the pandemic and spent £17.5m on boosting staff pay.
But the company said it also suffered due to Brexit with an increase in administration for importing and exporting.
Lidl was also one of several supermarket chains that agreed to pay back more than £100m in business rates savings when chancellor of the exchequer Rishi Sunak scrapped the tax to support the high street.
Last week Lidl it will increase entry-level wages from £9.50 to £10.10 an hour outside of London and £10.85 to £11.30 within the capital city. It said the move will make it the UK's highest-paying supermarket.
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