Aldi has announced plans to open 23 more stores across the UK by the end of the year in a win for Britain’s high streets and retail parks despite the recent trend of store closures.
The discount supermarket also signalled that prices of popular products on shelves will be cut in the coming months after a period of inflation-hiked prices amid the cost of living crisis.
With more than 45,000 workers, the German chain has pledged to spend £1.4billion on expansion over two years as it strives towards a long-term goal of 1,500 sites in the UK.
Among the areas being earmarked for store openings over the next 16 weeks include Muswell Hill in London and Caterham in Surry.
As it stands, Aldi has more than 1,020 locations operating in the UK.
Last year, the retail group posted skyrocketing sales and profits, unveiling a strategy to spend £800million as part of an accelerated expansion plan.
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The supermarket chain is continuing its expansion plans
ALDI
Here is a full list of the areas confirmed to have a new Aldi store open this year:
- Leytonstone, London
- Muswell Hill, London
- Fulham Broadway, London
- Gosforth, Northumberland
- Pwllheli, Gwynedd, Wales
- Castle Douglas, Dumfries and Galloway, Scotland
- Horsham, West Sussex
- Mere Green, Birmingham
- Billericay, Essex
- March, Cambridge
- Penistone Road, Sheffield
- Cheadle, Greater Manchester
- Caterham, Surrey
- Ashford, Kent.
Giles Hurley, the chief executive of Aldi UK and Ireland, indicated that customers will soon see the benefits of inflation easing over the next couple of months.
He said: “Our price inflation has come down ahead of other supermarkets, and are the only one where our prices are lower than a year ago.
“We know times are still challenging for customers and we are doing everything we can to support them.
“We’ve invested £100million more in price reductions and I’m pretty optimistic that customers will continue to see price reductions in stores before Christmas.”
Recently, Aldi saw the highest ever annual UK and Ireland sales growth of 16 per cent to £17.9billion for last year, up from £15.5billion in 2022.
Over the period, pre-tax profits more than tripled to £536.7million from £152.6million the year prior.
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High streets have been hit by a wave of store closures since the pandemic, on top of banks shutting down PA
Aldi’s UK boss confirmed the firm was launching hundreds of premium range products for shoppers to trade up over Christmas.
Hurley said: “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.
“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.”