Schwarz Group Aims For 25 Percent Sales Growth For Lidl

Schwarz, owner of discount supermarket chain Lidl, wants to increase sales by more than 25 percent to €100 billion, or $114 billion, by 2020, according to CEO Klaus Gehrig. To help achieve this goal, Lidl will significantly increase the number of its stores and reorganize its Kaufland hypermarkets. In 2014, Schwarz reported sales grew 7 percent to €79.3 billion, overtaking Carrefour to become Europe's largest retailer. Lidl operates almost 10,000 stores across the continent.