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Aldi announces £1.4 billion expansion to create 6,000 jobs

By Nagasunder in UK Business News, posted September 26, 2023

Aldi will start a £1.4 billion investment drive over the next two years, creating 6,000 new jobs in the UK.

The supermarket giant said the expansion plans include opening stores in 18 locations by the end of 2023.

This announcement follows a remarkable financial year for the German discount supermarket chain.

Its operating profits surged by 196 percent to £178.7 million in the twelve months leading up to December 2022.

It marks a substantial increase from the previous year's figure of £60.2 million.

A surge in sales drove the company's extraordinary success.

It's reached a 33-year high of £15.5 billion, representing a substantial 14 percent increase.

Aldi has over 1,000 stores across the UK.

The company channels the funding to expand its store and distribution network.

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However, it’ll also enhance existing stores and technology infrastructure to support its growth trajectory.

Giles Hurley, the CEO of Aldi UK and Ireland, said: “Britain is shopping very differently to how it did 18 months ago – fewer trips, more own label products, and switching supermarkets in search of better value.

“What we’re seeing is a new generation of savvy shoppers who’ve turned their back on traditional, full-price supermarkets in favour of transparent, low prices, which is what we’re famous for.”

Aldi's expansion news comes as its competitor, Lidl, reported a major loss of £75.9 million in the past year despite a surge in sales.

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