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Aldi Targets Doubling of UK Stores with 600 Million Pound Investment

Aldi Targets Doubling of UK Stores with 600 Million Pound Investment

LONDON (Reuters) – German discount grocer Aldi said on Monday it planned to open another 550 new stores in Britain over the next eight years, creating 35,000 new jobs.

The firm, currently the fastest growing grocer in the UK sector, said it would invest more than 600 million pounds ($954 million) in the expansion that would grow its store estate to 1,000 by 2022.

“Our expansion plans mean that we can accommodate growing shopper numbers,” said joint group managing director Matthew Barnes.

All of Britain’s traditional “big four” grocers – market leader Tesco Wal-Mart’s Asda, Sainsbury’s and Morrisons – have been losing market share to discounters Aldi and Lidl.

Read more at Reuters

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