Aldi plans to double UK stores
A poster boy of austerity Britain, value-focused chain Aldi managed to grow its market share by 54 per cent this year, and is now looking to double its UK stores.
The news comes as Aldi revealed a 29 per cent rise in turnover for 2011, as its discounts and aggressive promotions hit home with customers looking to save on their grocery spend.
The German retailer, which holds a 4 per cent share of the UK grocery market, on Monday said it now plans to invest £181 million in opening 40 new stores by the end of 2013, taking its UK total to over 500.
With 29 stores opened in 2011, the new locations would add 4,500 jobs Aldi’s UK operations.
Profit after tax came in at £57.8 million for Aldi in 2011, having reported a loss of £56 million the year before. Turnover rose to £2.76 billion from £2.14 billion, a rise which the company has attributed to investment in its fresh meat, bakery and fruit and vegetable ranges.
“During the past three years, we have focused more on understanding what consumers want and responded by working with a growing number of UK suppliers to offer great tasting and quality products at everyday low prices.” Roman Heini, Aldi UK joint managing director told the Telegraph.