Aldi has announced a £1bn investment that will see it open – on average – a new store in the UK every week for the next two years.
The news came as the discounter recorded an 11% increase in sales last year, compared to the previous 12 months. However, profits for the same period were down 18%, as the company cut prices in a bid to stay competitive.
Despite adding over 800,000 new customers last year, almost half of the UK’s population currently doesn’t shop in Aldi – mainly because they don’t stay near a store. Hence the massive expansion plan.
The discounter also intends to grow its ‘Aldi Local’ format. The first of these – in Balham, London – launched on a trial basis in the spring. There are now eight of the convenience-sized stores dotted around the capital. Over time, that number could rise to 50.
