Aldi Unveils £800m British Expansion Plan Following Record Sales

• Aldi to funnel £800m into UK growth
• 23 new stores set to open in the next 16 weeks
• £100m slashed from prices on over 300 items recently
• Annual results reveal record-breaking sales and profits

Aldi, known for its unbeatable pricing, has mapped out its largest yearly investment to date, setting aside £800m to fuel its expansion across the UK. The ambitious plan includes opening 23 new stores by year-end and revamping 100 existing ones, alongside bolstering its supply chain and tech infrastructure.

To accommodate this growth, Aldi aims to scale its store count to 1,500, up from the current 1,000+, and will also extend its distribution network. Financial results for the year ending December 2023 indicate a remarkable sales increase of £2.4bn to £17.9bn, marking a striking 16% growth. With a 10% market share, Aldi continues to attract cost-conscious consumers despite easing inflation.

The company's pre-tax profits soared to £536.7m, thanks to improved efficiencies and record sales. Operating profits also saw a boost, reaching £552.9m, translating to a 3.1% profit margin.

In the past three months, Aldi has invested nearly £100m to lower prices on over 300 products, affirming its status as the UK’s cheapest supermarket, according to Which? Consumers can find price cuts on items ranging from fish goujons and chicken breasts to breakfast cereals and Basmati rice.

Aldi's investments extend to its British suppliers, spending an additional £1.3bn last year and setting up new long-term partnerships. A notable agreement includes a £750m contract with Kent-based AC Goatham & Son for the inaugural 'Aldi Orchard'.

Pay improvements for staff are also on the agenda, with Aldi spending £79m on wage increases this year, further solidifying its lead in offering the best hourly rates in the sector. Store Assistants saw their pay rise from £12.00 to £12.40, and from £13.55 to £13.65 for those within the M25.

Giles Hurley, CEO for Aldi UK and Ireland, affirms, “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."

Tom Church, Co-Founder of LatestDeals.co.uk, says: "Aldi's aggressive expansion and investment in price cuts are bound to shake up the UK supermarket landscape. Consumers will benefit from more choices and better prices."