Discount grocer bounces back from Covid disruption as profits surge 319% from last year
Lidl says it has taken £58m in additional sales from traditional supermarkets in the past month, as shoppers look for ways to save money, after quadrupling profits in a bounce back from pandemic disruption.
The German-owned discount grocer, said its British sales rose 1.5% to £7.8bn in the year to the end of February but pretax profits surged 319% to £41.1m as the group trimmed costs as measures to control the Covid-19 virus eased.
Continue reading…Discount grocer bounces back from Covid disruption as profits surge 319% from last yearLidl says it has taken £58m in additional sales from traditional supermarkets in the past month, as shoppers look for ways to save money, after quadrupling profits in a bounce back from pandemic disruption.The German-owned discount grocer, said its British sales rose 1.5% to £7.8bn in the year to the end of February but pretax profits surged 319% to £41.1m as the group trimmed costs as measures to control the Covid-19 virus eased. Continue reading…