Aldi announces plans to open 500 new stores with £550million spending pledge

Giles Hurley, the company’s UK and Ireland chief executive, cited that 2024’s expansion plans are aiming to address that “there are still areas of the country that don’t have an Aldi, or that need more or larger stores to meet demand”.

Last year, Aldi was named as the cheapest supermarket by consumer champions Which?.

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The retailer has risen in popularity over the years thanks to its lower prices compared to the rest of the market and its own-brand goods.

Over Christmas, Aldi reported its “best ever” performance with sales in the UK up eight per cent year-on year-year.

As a result, the budget supermarket saw sales hit a record of more than £1.5billion in the four weeks to December 24.

Both Aldi and fellow discount retailer Lidl have expanded their share of the grocery market during the cost of living crisis as customers have looked to avoid inflation-hiked prices.

While Aldi has said it plans to open around 500 new stores in the coming years, it has not specified how many will open this year.

However, the supermarket chain is expected to give more details on its expansion plans in the coming months.

The more than £550million investment has been set aside to upgrade existing stores, warehouses and UK offices.

Currently, Aldi has more than 1,000 shops in the UK and has previously set itself a goal of having 1,200 locations by the end of 2025.

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Mr Hurley shared: “We’re continuing to welcome more and more new customers through our doors – with people coming for our low prices but staying for our award-winning quality and British sourcing.

“We now have more than 1,000 stores across the UK but there are plenty more Aldi stores still to come, in 2024 and beyond.”

As part of its expansion plan, Aldi is looking out for locations in town centres or on the outskirts of towns to open stores.

Among the reported priority locations include parts of London, Penzance, Bath, Maidenhead, Worthing, Warrington, Newcastle upon Tyne, Nottingham, Derby, Birmingham, Cambridge, York, Cardiff and Cathcart.