Discount Retail Chain Aldi UK is set to open three more supermarkets in London as part of an £800m plan to ramp up expansion across the UK.
The discounter said it was opening 23 stores by the end of the year and revamping another 100 shops as part of the record investment plans. Aldi, Britain’s fourth largest supermarket with more than 1,020 stores and more than 45,000 colleagues, said it would also spend £1.4bn on expansion over two years as it works towards a long-term plan for 1,500 sites in the UK.
The 23 new Aldi locations for stores opening over the next 16 weeks include London’s Muswell Hill, Leytonstone, and Fulham Broadway. According to CoStar News, the new Aldi will open at 412 Muswell Hill Broadway, which was previously a 99p store and a Poundland. In terms of the Leytonstone store, a report suggests it could be opening at the recently shut Matalan site.
In early August, it was revealed that Aldi will be taking over the former home of Wilko on the ground floor of Fulham Broadway shopping centre. Details of the investment came as German-owned Aldi said it has notched up its highest ever annual UK and Ireland sales growth of 16 per cent to £17.9bn for 2023, up from £15.5bn in 2022.
Pre-tax profits more than tripled to £536.7m from £152.6m in 2022, which Aldi said was also down to cost savings across the business.
The group’s UK boss said the firm was launching hundreds of premium range products for shoppers to trade up over Christmas.
Giles Hurley, chief executive of Aldi UK and Ireland, 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.”
He added: “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.”
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