Lidl Steps Towards Recovery

Lidl, a leading discount chain in the Czech mass grocery retail (MGR) sector, has reported losses of CZK43mn (US$2.1mn), for the 2006-2007 business year, which ended in February. Despite these poor results, this is actually an improvement on the year before when the company recorded losses of CZK80mn (US$3.5mn). Lidl is owned by Germany's Schwarz, which also runs the successful Kaufland hypermarket chain in the country, and is the Czech Republic's leading MGR operator by sales. Despite these continued losses, which are attributed to Lild expanding too quickly, it appears that the retailer is on the road to recovery, with

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