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Schwarz Plans To Invest €6.5 In Upgrading Lidl And Kaufland Stores In Germany

May 26, 2016: 12:00 AM EST
Schwarz, owner of Lidl, plans to invest €6.5 billion in 2016 to renovate and improve its stores in Germany, its home market. Lidl and its rival discounter Aldi have become retail giants in Europe; however, they are losing market share to local supermarkets in Germany. Part of Schwarz's planned investment will go to its Kaufland hypermarket division. Lidl will invest more than €3 billion in the next five years in its 3,200 stores in Germany.
Emma Thomasson, "CORRECTED-Lidl owner to invest 6.5 bln euros in 2016 – newspaper", Reuters, May 26, 2016, © Thomson Reuters
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