Lidl profits soar as customers switch millions of pounds to discounter

Lidl sign

Lidl profits and sales have soared as deepening food inflation and the worsening cost-of-living crisis have seen hundreds of thousands of customers a week making the switch from supermarkets to the discounter.

The discounter said £58m worth of spend, equivalent to more than 770,000 shoppers, had switched from the traditional big four supermarkets to Lidl last week compared to last year, in a bid to save money on their food spending.

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