30 June, 2008 – Aldi has said it will open a new store every week in the UK over the next five years as more consumers turn to discount supermarkets in the face of soaring food prices.
The German hard discount chain announced its plans as a new report showed the harsh economic situation in Britain is prompting shoppers to reduce household expenses.
Aldi Managing Director Paul Foley said the company was set to spend £1.5 billion up to 2013 on its expansion plans – building a new store every week and recruiting 1,500 employees. Aldi, which is in the process of bringing over 200 more stores on-line, said it was confident of reaching its UK target of 1,500 supermarkets.
The Aldi chief said: “We will open one a week for the foreseeable future. We can do it quicker, cheaper and easier than the supermarkets.”
One industry journal quoted Aldi as posting a year-on-year growth rate of 21%.