Lidl GB Sales Soar 10%

Lidl's sales in Great Britain increased by 10% to over £13bn this year, driven by shoppers seeking cheaper fresh meat, fruit, and vegetables, as well as its Deluxe range. The company's pre-tax profit grew by 30% to £245.5m in the year ended in February.

The supermarket spent £315m on price cuts and promotions, including its 'pick of the week' product, and saw a 12% increase in sales of its Deluxe upmarket food range. Lidl GB's chief executive, Ryan McDonnell, said customers are looking to trade up and treat themselves at home.

Lidl has attracted 43 million additional customer visits, resulting in 486 million more products sold, and £650m in sales. The company overtook Morrisons to become Britain's fifth-largest grocer in May, with a market share of 8.7%.

The supermarket plans to open over 50 stores in the next 12 months as part of a £600m investment programme, creating almost 2,000 jobs. This move is in response to Aldi's plans to invest £900m in Britain next year, opening 40 new stores and investing in its distribution network.

Lidl's growth is more than twice as fast as that of Tesco and Sainsbury's, with sales increasing by 4.6% and 4.3% respectively in their latest financial years. Morrisons grew revenue by 3.2%, while Asda's sales fell by 3.3%.

The company's loyalty programme, Lidl Plus, has seen a 23% rise in participants this year. Clive Black, vice-chair at Shore Capital, noted that this is in contrast to Aldi, which does not operate a loyalty scheme.

Lidl's success comes as food inflation is expected to keep rising due to mounting fuel costs and global weather disruption. The supermarket's focus on keeping prices low has helped it attract more customers.