Aldi has announced its largest-ever annual investment, committing £800 million to accelerate its store expansion across the UK. The supermarket giant plans to open 23 new stores by the end of the year, with key locations including Muswell Hill, London, and Caterham, Surrey. This forms part of a broader £1.4 billion two-year growth plan.

In addition to expanding its footprint, Aldi is refurbishing 100 of its existing stores as part of the investment push. The announcement coincides with the release of Aldi’s 2023 annual results, revealing a remarkable £2.4 billion increase in sales, reaching a total of £17.9 billion—the retailer’s highest-ever growth period.

Aldi’s pre-tax profit also saw a substantial rise, jumping to £536.7 million from £152.6 million in 2022. This boost in profitability was driven by record sales and enhanced operational efficiencies across its store network and central operations.

Giles Hurley, CEO of Aldi UK and Ireland, commented: “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 across the country.”

Hurley continued: “We’re also investing at record levels to cut prices, reward our amazing colleagues, and support more local causes. All while creating thousands of jobs and providing even more opportunities for our growing base of British suppliers and farmers.”

With over 1,000 stores currently in the UK, Aldi is aiming for a long-term goal of reaching 1,500 locations, solidifying its position as one of Britain’s most rapidly expanding supermarket chains.

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