In the 2024 financial year, Lidl successfully returned to profitability, fuelled by increased shopper visits and sales growth.
- The retailer reported pre-tax profits of £43.6m, a significant turnaround from a £76m loss the previous year.
- Sales rose by 16.9%, reaching nearly £11bn, demonstrating strong market performance.
- New customer visits surged, with 326,000 additional shoppers and over 35 million extra shopping trips registered.
- CEO Ryan McDonnell attributed the success to customer trust in Lidl and its commitment to British suppliers.
In the 2024 financial year, Lidl experienced a remarkable financial rebound, bolstering its position in the retail sector. The retailer’s pre-tax profits climbed to £43.6 million, marking a significant recovery from a loss of £76 million in the preceding year. This impressive financial turnaround highlights Lidl’s ability to attract and retain customers in a competitive market.
The company’s sales figures underscore its strong market performance, with a 16.9% increase bringing total sales close to £11 billion. This substantial growth reflects Lidl’s effective strategy in appealing to a broad customer base and capturing market share.
Throughout the year, Lidl successfully attracted 326,000 new shoppers, surpassing the efforts of other supermarkets in drawing in new customer visits. The chain registered over 35 million additional shopping trips, a testament to its growing popularity and customer base expansion.
CEO Ryan McDonnell emphasised the role of customer loyalty in driving the company’s success. He remarked, “We’ve come a long way since we opened our first stores here 30 years ago, from stocking jars of frankfurters to now having over two thirds of our products sourced from British suppliers.” He highlighted the trust that households have placed in Lidl, contributing to its status as a preferred shopping destination.
Lidl’s success is further validated by Kantar data, which named the retailer as the fastest-growing with a physical presence for the 15th consecutive period. This recognition underscores the retailer’s strategic efforts in enhancing store experiences and promoting customer satisfaction.
Lidl’s strategic focus on customer loyalty and British sourcing has re-established its profitability, paving the way for continued growth.
