Discount chain Lidl has exceeded the 100 billion euro sales milestone for the first time, while parent company Schwarz Gruppe is also performing strongly. The new CEO, Gerd Chrzanowski, has hit the ground running.
Thanks to store openings
It is a great milestone for Lidl: The retailer has increased its sales by 4.7 % to 100.8 billion euros in the 2021-2022 financial year, according to figures published by parent company Schwarz Gruppe. The increase in turnover is partly due to the opening of 300 new stores.
The entire Schwarz Gruppe recorded strong results: turnover grew from 125.3 billion to 133.6 billion euros. Hypermarket chain Kaufland increased its turnover by 7.4 % to 27.3 billion euros. The group’s total online turnover was 1.7 billion euros. The group operates more than 13,300 stores and invested eight billion euros in expansion, modernisation and digitisation last year.
The good figures are a boost for CEO Chrzanowski, who took office during the financial year following an internal power struggle within the group. He has resolved to carry out a cultural revolution at the company, aiming to turn a tightly managed, traditional retailer into an agile company, with shared responsibilities and far-reaching digitisation.
