Lidl has committed to opening another 235 stores across the UK, creating up to 4,000 jobs. It comes as the discounter revealed a bounce back into the black in the year ended 28 February 2021 as revenues jumped 12% to £7.7bn. The rise in sales throughout the pandemic helped Lidl move from a £25.2m pre-tax loss in the previous year to profits of £9.8m. Earnings before interest and tax was also up 311% to £44m. Lidl said today it aimed to have 1,100 stores in its estate by 2025, increasing its previous goal of 1,000 sites by 2023, which it also added was on track. It opened 55 shops during the financial year, despite the challenges of the pandemic, to take its estate to 865 strong. Lidl invested more than £17.5m in colleague remuneration during the period: £8m in raising hourly wages for colleagues and a £9.5m one-off thank you payment and gift voucher given to colleagues in recognition of efforts during the pandemic.
