Lidl chief executive Klaus Gehrig has underlined the grocery discounter's commitment to expanding into the US market, but has also revealed that its first stores in the country won't be opened before 2018.
Speaking to German newspaper Heilbronner Stimme, Gehrig said the group was planning to invest €4bn in pursuing growth across its international business – including a US venture he described as 'in full swing' – and push ahead with a programme of store replacement that will see it increasing the average size of its outlets.
Lidl has already set up an office in Arlington, Virginia, led by executives from its Ireland office who are currently assessing the feasibility of opening in the US.
Meanwhile, Lidl's parent company Schwarz Group, which also owns Kaufland, recently revealed that its net sales grew 10 per cent to over €74bn (US$98bn) in the 12 months to the end of February.
Turnover was up from 10.4 per cent to around €54bn (US$72bn), mainly as a result of like-for-like growth.
