Supermarket chain Aldi has unveiled plans to invest £1.6bn ($2.17bn) in the UK with the aim of opening 80 new stores within the next two years.
The expansion strategy is part of the company’s goal to extend its footprint to 1,500 locations across the country, building on its current total of 1,060 outlets.
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In the next 13 weeks, company is planning to open 21 new stores in locations such as London and Durham, as well as Kirkintilloch in Scotland.
Earlier this year, Aldi identified 20 priority locations, including Bromley and Ealing in Greater London, South Shields in Tyne and Wear, and Witney in Oxfordshire, where it is actively seeking sites.
The investment news was released alongside Aldi’s financial results for the year ending December 2024, which showed a modest increase in sales.
The company’s total sales in the UK and Ireland reached £18.1bn, a slight rise from the £17.9bn reported in 2023. This growth is attributed to the opening of new stores throughout the year.
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By GlobalDataDespite the increase in sales, Aldi reported a decrease in operating profit, which fell to £435.5m from the previous year’s £552.9m.
The supermarket chain cited continued price reductions for customers, investments in infrastructure, and higher wages for staff as the primary reasons for the reduced profit margin, now at 2.4%.
Operating profit fell to £435.5m in 2024 from £552.9m in 2023, with a margin of 2.4%, attributed to pricing, infrastructure investment, and higher staff pay.
Aldi UK and Ireland CEO Giles Hurley said: “Since we opened our first UK store over 35 years ago, we’ve brought high-quality, affordable groceries to almost 800 towns and cities, but there are hundreds more communities that don’t have an Aldi nearby.
“We’re more determined than ever to meet that demand, and that’s why we’re investing a record £1.6bn over the next two years, to bring Aldi prices closer to millions of more customers.”
