Post by philbadfactor on Sept 14, 2023 9:16:31 GMT
Good on Lidl for keeping prices down and happy to take a hit.
And opening more and more stores and I've heard they pay half decent wages as well.
Lidl in Britain makes £76m loss amid battles to keep a lid on rising prices;
www.theguardian.com/business/2023/sep/14/lidl-in-britain-makes-76m-loss-amid-battles-to-keep-a-lid-on-rising-prices
And opening more and more stores and I've heard they pay half decent wages as well.
Lidl in Britain makes £76m loss amid battles to keep a lid on rising prices;
www.theguardian.com/business/2023/sep/14/lidl-in-britain-makes-76m-loss-amid-battles-to-keep-a-lid-on-rising-prices
The group reported pre-tax losses of £76m for the year to 28 February against profits of £41.1m the previous year as it also invested heavily in the business.
Sales jumped by 18.8% to £9.3bn over the year and the group said it increased its share of the supermarket sector. But it said the losses came as it faced a “challenging inflationary environment which led to an increase in costs across the board” and made significant investments in the chain.
The group “held firm on its promise” to keep price tags low for shoppers, spending £100m on prices, while it also invested nearly £50m in wage increases for staff and opened 50 new stores across the UK.
Sales jumped by 18.8% to £9.3bn over the year and the group said it increased its share of the supermarket sector. But it said the losses came as it faced a “challenging inflationary environment which led to an increase in costs across the board” and made significant investments in the chain.
The group “held firm on its promise” to keep price tags low for shoppers, spending £100m on prices, while it also invested nearly £50m in wage increases for staff and opened 50 new stores across the UK.
