Aldi announces biggest ever annual investment in Britain as it continues its expansion
Aldi has announced its biggest ever package of annual investment in Britain as it continues its expansion.
The supermarket is planning to open 23 new stores before the end of the year to mark a record £800 million annual investment programme and a £1.4 billion two-year plan.
With new shops launching in places like Muswell Hill in London and Caterham in Surrey, the retailer will also be refurbishing 100 existing stores, expanding its network of distribution centres, and updating technology infrastructure to support growth.
Aldi currently has over 1,000 stores in the UK and has previously announced plans to reach a total of 1,500.
In the 12 months to December 2023, Aldi’s sales increased by 16% to £17.9 billion to mark its highest ever period of sales growth. Pre-tax profit was also up, surging to £536.7 million from £152.6 million in the prior year as the retailer benefited from the rise in sales and greater efficiencies across its stores and central functions.
The supermarket has invested almost £100 million in over 300 price cuts in the last three months and last year spent an extra £1.3 billion with its 5,000 British suppliers. Earlier this year, it confirmed a £750 million deal with the family-owned fruit farm, AC Goatham & Son, which will include the first ever ‘Aldi Orchard’ being sited on a 200-acre plot on New Green Farm in Kent.
Giles Hurley, chief executive officer for Aldi UK and Ireland, said: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We’re responding with our biggest ever annual investment in Britain.
“For every £1 of profit generated last year, we’re investing £2 this year – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families the length and breadth of Britain.
“We’re also investing at record levels to cut prices, reward our amazing colleagues and support more causes in our local communities. All while creating thousands more jobs and even more opportunities for our growing base of British suppliers and farmers.”
He added: “As we head towards the Christmas trading period, we’re all set to launch our biggest and best-ever seasonal range, including hundreds of premium range products at unbeatable prices for our customers.”
