Dieter Schwarz controls the Schwarz Group, the largest closely held
discount grocer in Europe, which operates the Lidl and Kaufland
supermarket chains. He controls the companies through the Dieter Schwarz Stiftung, a limited liability company with a charitable purpose. The group has more than 10,000 stores in Europe and generated $83 billion in 2011 sales.
Tesco Plc, the U.K.’s largest retailer, fell the most in almost nine months in London trading after the grocer’s two brokerage advisers said a promise of permanently cheaper prices will hurt profitability.
Tesco Plc, the U.K.’s largest retailer, will offer permanently cheaper prices on some items to replace overly complex promotions as it seeks to stem hemorrhaging sales and reverse a declining share of the market.
Poundland Group Plc, the U.K. discount retailer that plans to sell shares in an initial public offering, will test online sales later this year as it seeks to break into another growth area for shopping.
On a recent Saturday afternoon at a Lidl supermarket in London, a 500-gram slab of minced beef was on sale for 2 pounds ($3.21), half the price of the same product at a Sainsbury Local store a few blocks away.
The founding family of U.K. grocer Wm Morrison Supermarkets Plc has contacted private-equity funds such as CVC Capital Partners Ltd. and Carlyle Group LP to weigh their interest in taking the retailer private, people with knowledge of the matter said.
Mike Coupe has been instrumental in making life difficult for Britain’s supermarket leader Tesco Plc. In his new position as chief executive officer of J Sainsbury Plc, he may have the tables turned on him.
Michaela Angle has a taste for refined things. The London estate agent drives a silver BMW and is planning a Christmas dinner full of luxury fare. This year, however, she’s buying more than ever at Lidl, the German grocer better known for cut-throat pricing than holiday treats.