Lidl GB to open over 50 stores in $793 million investment drive

LONDON, Oct 5 (Reuters) - Lidl GB, the UK arm of the German discounter, said on Monday it would open over 50 new stores in its current financial year as part of a £600 million ($793 million) investment, stepping-up its battle for a bigger share of Britain's grocery market.

The supermarket, which is owned by Germany's Schwarz Group, and rival discounter Aldi UK have expanded rapidly over the past two decades, transforming Britain's grocery scene and forcing traditional players, including market leader Tesco TSCO.L and number two Sainsbury's SBRY.L, to compete more aggressively on price.

In May, Lidl GB overtook Morrisons to become Britain's fifth-largest grocer by value market share.

Industry data, published last month, showed Lidl GB had a UK market share of 8.7%, up 0.4 percentage points on the year. It is Britain's second-fastest-growing bricks and mortar supermarket after Marks & Spencer MKS.L.

For its year to February 28, 2026, Lidl GB's operating profit rose 9.9% to £345 million on turnover up 10.8% to £13 billion, with the opening of over 40 new stores helping to drive an additional 43 million customer visits.

Last week, Aldi UK said it would invest £900 million next year, including in 40 new stores.

($1 = 0.7569 pounds)