The retail supermarket chain Lidl has increased its profits in Spain by 40% after its investment in the country. The German company has achieved sales totalling 3,049 million Euro in the year ending February 2016, compared to 2,708 million in the previous year.
Lidl's turnover has grown by 12.6%, while its profit has increased from 74.3 million to 104.9 million Euro. The company explained that it is strongly committed to the Spanish market, where it has invested 262 million Euro. This money has been used for 40 renovations.
The supermarket chain has a market share of 4.5% in Spain, according to consultant Kantar Worldpanel. Lidl is thus the fifth largest Spanish distribution company; a ranking that is dominated by Mercadona, with 22.5% of the market share.
Moreover, the chain has also increased its workforce, as it had an average of 8,804 employees in 2016, compared to 8,009 in the previous year, as reported by the retail company itself.
Source: noticiaslogisticaytransporte.com
