LONDON (Reuters – Wednesday saw the British branch of German discount retailer Lidl announce a new goal of 1,100 stores by 2025. The new targets could create up to 4,000 additional jobs.

Lidl GB was a part of Germany’s Schwarz retail company. They had an earlier target to open 1,000 stores by 2023.

“We continue to see tremendous opportunity in the market,” said CEO Christian Härtnagel.

Britain’s retail food sector was transformed by Lidl (and Aldi), a German-owned discounter. These have driven down the returns of the major four players: Tesco (OTC), Sainsbury’s Morrisons, Asda and Sainsbury’s.

Lidl (which has a 6.2% market share in UK grocery markets but does not trade online) reported that revenue rose 12.2% to 7.7 Billion Pounds ($10.3 Billion) in the year to February 28th 2021. This resulted to a pretax profit margin of 9.8 Mln pounds, compared to a loss 25.2 Million Pounds in 2019-20.

The company said that it had invested 498 millions pounds in the past year.

($1 = 0.7470 pounds)