Retailer Lidl Passes Tesco, now #1 in Slovakia

Reading Time: < 1 minute

In Slovakia, Tesco is now in the rear mirror for German supermarket chain Lidl, whose profits for 2020 (over EUR 126 million) have exceeded that of the British retailer, which has been the market leader in the country for some time.

Lidl overtaking Tesco in Slovakia can be attributed to the former’s revenues of EUR 1.5 billion for 2020, and the latter’s growth in the country having stalled. Observers attribute Lidl’s success to its efficient management and the increasing number of outlets in Slovakia which now number 151.

Source: Euractiv

CET Editor

Recent Posts

Teltonika drops EUR 3.5bn ‘dream’ project in Vilnius

Teltonika has announced it is halting the construction of its EUR 3.5bn High-Tech Hill park…

3 days ago

Hungary’s energy strategy has left it vulnerable to electricity price speculators – report

Hungary’s electricity market has become a focal point for speculative trading, driven by a combination…

3 days ago

CEE secures EUR 1.4bn in AI funding in 2023-24

Central and Eastern Europe (CEE) is a rising force in artificial intelligence (AI) and startups…

3 days ago

EU assesses candidates’ progress in ten country reports

The European Commission (EC) analyses the accession prospects of all ten prospective members of the…

3 days ago

CEE mulls ramifications of Trump’s victory on trade, defence, environment

As Donald Trump officially declared his victory in the US election, he received congratulations from…

1 week ago

‘Budapest Declaration’ signed as Orban hosts EU summit

European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…

2 weeks ago