Lidl to invest €180m to open 20 new stores in Spain
Lidl is planning to add 20 new stores to its current 525 stores located across Spain in a EUR 180 million investment. Additionally, the retailer is also aiming to launch another warehouse in Murcia this autumn.
German discount supermarket is also looking to invest in a batch of existing stores, its Spanish arm’s spokesperson said. “We will invest as well in other 50 existing stores in order to increase the sales room and add new products in the assortment.”
The firm is also working on improving ranges in its existing outlets.
According to Kepler Cheuvreux retail analyst Inigo Egusquiza, the data showed Lidl was posting the highest growth in Spain, he said: “We believe that 2014 will be another tough year for the Spanish food retail industry with many different players expanding business including Dia, Lidl, Mercadona, Carrefour, ECI, Eorski among other players. We also believe that 2014 might be a tougher year than 2013 from a pricing perspective as Dia has already announced the intention of becoming more aggressive in pricing to try to turn around the negative LFL published in 2013.”