Germany/US: Lidl plans expansion after management issues
08.02.2017 Germany/US: Lidl plans expansion after management issuesHandelsblatt, 08 Feb 2017, online:-
After plans to expand to enter Australia were rejected, Germany-based supermarket Lidl plans to expand in the US market. The firm plans to open 600 stores in the country starting with 100 stores in the Mid-Atlantic region, in the states of Virginia, North Carolina, South Carolina, Maryland. The US expansion will cost EUR 1bn (USD 1.08bn). The firm is preparing to open its first click and collect points in Germany under the Lidl Express brand. The service was supposed to launch in December but internal disputes delayed the project. Former CEO Sven Seide departed the firm following a dispute with Klaus Gehrig, head of the main holding company Schwarz. Seidel's successor, Jesper Hojer, is now expected to have less freedom than his predecessor as Schwarz plans to have much more control over the plans of subsidiaries. The firm now has a five headed board.
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