Lidl, Kaufland Owner Sees Double-Digit Revenue Increase In FY 2020/21
Schwarz Group, the owner of the Lidl and Kaufland retail chains, has reported revenues of €125.3 billion in its 2020/21 financial year, a 10% increase on the previous year (€114.3 billion).
The group, which employs approximately half a million personnel around the world, said that its Lidl banner achieved a 9.9% sales increase, to €96.3 billion, while Kaufland was up 7.5% to €25.5 billion.
Both retail banners have around 12,900 outlets between them.
Elsewhere, its environmental services business, PreZero, reported a 33.7% increase in sales to around €700 million. PreZero recently ramped up its circular economy capabilities with the acquisition of Suez' recycling business in four European countries.
Management Changes At Schwarz Group
Schwarz Group recently announced the departure of longstanding top executive Klaus Gehrig, with company owner Dieter Schwarz stepping in on a temporary basis ahead of the appointment of his designated successor, Gerd Chrzanowski.
According to trade publication Lebensmittel Zeitung, the restructuring of the business' management team is already underway, with the recent appointment of Carsten Theurer as the chief executive of its Schwarz Services arm, as well as new CEOs for its digitization, IT, recycling management and production divisions.
The group also recently announced the appointment of a new chief executive for its operation in the US, where growth has been slower than expected due to the competitive nature of the marketplace Stateside.
Former Lidl Poland president Michal Lagunionek took charge of Lidl US in June, which encompasses more than 140 stores across nine States, chiefly along the east coast.