Aldi announces record £800m investment amid highest ever sales
It comes as the group welcomed its highest ever period of sales growth in its latest full-year results, with sales up by 16% to £17.9bn
Aldi has unveiled its largest ever annual investment plan, with a new £800m package that is set to further its expansion across the UK.The supermarket said it also plans to invest £1.4bn into the business over the next two years.
It comes as the group welcomed its highest ever period of sales growth in its latest full-year results, with sales up by 16% to £17.9bn.
In the year to December 2023, pre-tax profit also rose from £152.6m to £536.7m, driven by the “record” sales as well as greater efficiencies across its stores and central functions.
Under the new £800m investment programme, the supermarket said it plans to open 23 new stores before the end of the year, including Muswell Hill, London and Caterham, Surrey.
It is also refurbishing 100 existing stores this year, whilst growing its network of distribution centres and updating technology infrastructure to support its growth.
The retailer, which currently has over 1,000 stores, plans to scale to 1,500 stores across the UK, whilst creating “thousands| of jobs and more opportunities for British suppliers.
The supermarket said it has invested almost £100m in over 300 price cuts in the last three months. It also spent an extra £1.3bn with 5,000 British suppliers last year, with that amount set to increase further.
Aldi has also invested £79m so far this year in pay increases, including a second rise in June for store assistants from £12.00 to £12.40.
Giles Hurley, CEO 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.”
He added: “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.”
