GERMAN supermarket retailer Lidl has revealed turnover within its Northern Ireland operation increased by 14% last year to almost half a billion pounds.
The discount grocer said its 42 northern stores generated an additional £62 million in the year to February 2024, with turnover hitting £496m.
It came during a period of easing inflation, with the UK’s consumer price index dropping from 10.1% in March 2023 to 3.4% in February 2024.
Despite the improved performance, Lidl joined more than 70 other major retailers, including Tesco, Asda and Sainsbury’s on Monday, in warning that jobs will be lost and prices will rise due to the national insurance rise announced in October’s Budget.
An open letter to Chancellor Rachel Reeves claimed the changes to employer’s national insurance along with the national minimum wage, will cost the retail industry around £7 billion each year.
“The sheer scale of new costs and the speed with which they occur create a cumulative burden that will make job losses inevitable, and higher prices a certainty,” stated the letter.
Boots, Primark, Amazon UK, JD Sports and Greggs were among the other major chains to back the letter.
Meanwhile, Lidl’s latest analysis of its Northern Ireland supply chain said it spent an extra £19 million sourcing goods from 60 agri-food suppliers last year.
The retailer said it procured £530m of goods and services from businesses in total across the north in the year to February 2024.
Just under £70m worth of the products were sold in Northern Ireland, with around £404m sent to stores in Republic, Britain and across Europe.
Lidl’s local agri-food suppliers include Gilfresh, Wilson’s Country, Dale Farm, Moy Park, Crust & Crumb, WD Meats and Foyle Foods.
The supermarket chain also said it sourced £56m worth of services in the north during the period.
Lidl’s Northern Ireland boss, Ivan Ryan, said the figures reflect the group’s commitment to local suppliers.
“Each year, our impact report highlights our longstanding commitment to supporting our entire network of local suppliers – both established and aspiring – to grow and develop by showcasing the very best of their produce at home in Northern Ireland, and in thousands of our stores across Great Britain and Ireland and as far as Romania, Greece and Cyprus,” he said.
“This year, we are also pleased to showcase our valued business partners who make our business what it is behind the scenes and are very much seen as an extension of our business in Northern Ireland.”
“As we approach the end of our 25th year in Northern Ireland, I am extremely proud of the ever-growing contribution Lidl Northern Ireland continues to make to the local agri-food industry through our supplier partnerships and initiatives such as Kickstart.”
