The chief executive of German discount giant Lidl confirmed plans for a U.S. rollout, but said stores would open later than some analysts anticipated.
Klaus Gehrig, CEO of Lidl parent Schwarz Group, told the German newspaper Heilbronner Stimme Thursday that U.S. expansion was “in full swing” but that 2018 was the target date for stores. As reported previously in SN, Lidl has established a U.S. office in Arlington, Va., headed by executives from its division in Ireland tasked with a feasibility study.
Analysts in Europe had anticipated Lidl could begin opening stores in the U.S. as early as 2015. Reports did not indicate reasons for the apparent postponement.
Klaus told the newspaper that Schwarz' sales for the fiscal year ended Feb. 28 grew by 10% to about $98 billion (U.S.).
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