Discount Retail Chain Lidl Sweden's (owned by the German Schwarz Group) financial statements for the last financial year, 1 March 2022 – 28 February 2023, are now ready. Net sales increased by SEK 2.5 billion, from SEK 14.2 billion to SEK 16.7 billion. Which is an increase of almost 18 percent (compared to the 7 percent increase the previous year).
"In 2022/23, we had the largest increase in turnover in eight years. We doubled our growth rate compared to last year. And growing significantly faster than the rest of the market. It shows that consumers appreciate our work to offer food of the highest quality at the best price in the industry and is at the same time a good tribute to our employees and our business model," says Jakob Josefsson, Country Manager Lidl Sweden.
Lidl Sweden is growing more than twice faster than the rest of the market, i.e. 18 percent compared to 6.8 percent. This is the sixth year in a row that Lidl Sweden is growing faster than the rest of the industry. Now the company has doubled its turnover in 7 years. Growth is mainly driven by organic growth with more customers in the existing stores, during the business year Lidl grew with another store. Lidl Sweden currently has 205 stores.
Profit improved from a loss of SEK 132 million to a loss of SEK 19 million in 2022/23. The number of employees increased from 3,560 to 3,701.
"The trend we have seen in recent years where more consumers are breaking their habits and routines has accelerated during the autumn and winter. In recent months, we have seen a fantastic influx of new customers to our stores. Our initiative to curb price increases and contribute to reduced pressure on Swedish households' wallets was well received, continues Jakob Josefsson.
Lidl Sweden has a clear ambition to grow. Recently, the company published a list of 91 cities where they want to establish themselves in the coming years. The long-term goal is for the food chain to have 300 stores.
During the spring, the new brand Matriket was introduced. Under Matriket, Lidl Sweden now collects all its own products that have the "From Sweden" label. This means that they are grown, produced, born and bred in Sweden. Here you will find dairy products, cereals, bread, vegetables and charcuterie. In the long term, Matriket will contain over 250 products, which makes the brand the one with the most products with the "From Sweden" label in the country.
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