Lidl to Spend $2.3 Billion Stepping Up U.K. Grocery Assault
- Budget chain to open almost one store a week in 2016
- Move adds to pressure on Britain's established supermarkets
A Lidle store in Catford, U.K.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
German discounter Lidl said it will invest more than 1.5 billion pounds ($2.3 billion) in the U.K. over the next three years, heaping pressure on established supermarkets such as J Sainsbury Plc to further reduce prices.
Lidl’s plans include boosting U.K. outlet numbers to 1,500 from 620 and introducing a new store design featuring wider aisles and baby-changing facilities. The budget chain expects to open almost one new store a week in 2016.