Updated: Aug 31, 2022
Discount Retail Chain Lidl (owned by the German Schwarz Group) and Kaufland, recorded revenues of EUR 125.3 billion (US$ 138Bn) in the financial year 2020/21, which is a 10% increase compared to the previous year (EUR 114.3 billion, US$ 126Bn).
The group said Lidl achieved a 9.9% increase in sales to EUR 96.3 billion (US$ 106Bn), while Kaufland grew by 7.5% to EUR 25.5 billion (US$ 28Bn). Both signs have approximately 12,900 stores.
On the other hand, the company PreZero dealing with, inter alia, In waste, its sales increased by 33.7% to around EUR 700 million (US$ 770Mn). PreZero recently expanded its circular economy by acquiring Suez's recycling operations in four European countries.
Changes in the management board of the Schwarz Group
The Schwarz Group recently announced the departure of longtime CEO Klaus Gehrig and company owner Dieter Schwarz entered the company temporarily before appointing an appointed successor, Gerd Chrzanowski.
According to Lebensmittel Zeitung, the restructuring of the company's management team is already underway, with the recent appointment of Carsten Theurer as CEO of Schwarz Services, as well as new CEOs for digitization, IT, recycling management and manufacturing.
The group also announced the appointment of a new CEO for its US operations, where growth was slower than expected due to the competitive nature of the market. In June, the former president of Lidl Polska, Michał Łagunionek, took over responsibility for Lidl US, which includes over 140 stores in nine states, mainly on the east coast.