Lidl has reported a sales increase of more than a tenth across its UK stores last year, boosted by its “Deluxe” range and attracting millions of additional shoppers. The British arm of the German discounter posted revenues of £13 billion for the year to the end of February, up 10.8% compared with the previous financial year.
Deluxe range drives growth
The growth was supported by a 12% year-on-year increase in sales of the Deluxe range, the supermarket’s own-label collection of premium food, home and beauty products. Operating profit rose to £345 million from £314 million the year before, according to newly published accounts.
More shoppers and expansion
Around 43 million more customers visited its shops during the year, which Lidl attributed to investments in lowering prices and expanding its chain of stores. In May, Lidl overtook Morrisons to become the fifth-largest grocery chain in the UK, based on Worldpanel by Numerator data.
