Cut price British supermarket Aldi is planning a £1.3bn investment after sales surged to record levels in the 2020 financial year.
Britain’s lowest-priced supermarket plans to create 2,000 new jobs, open 100 additional stores and expand its logistics infrastructure to include a 1.3m square foot site in Leicestershire over the next two years.
It comes after Aldi announced a 10.2 per cent growth in sales for the most recent financial year with revenue topping £13.5bn as 60 per cent of all British households shopped at the store.
Giles Hurley, Chief Executive Officer for Aldi UK and Ireland, said: “whilst 2020 was an extremely challenging year, our 41,000 colleagues stepped up when it mattered most – their dedication to the communities they serve has been nothing short of remarkable.
“Despite some of the most difficult conditions our sector has ever seen, our people underlined the strength, success and spirit of our business,” Hurley added.
As well as delivering record growth Aldi invested £600m in stores and distribution centres across the UK and expanded its click and collect service to over 200 stores.
Additional expenditure during the pandemic year caused the store’s pre-tax profit to dip by 2.5 per cent despite record revenue, standing at £264.8m.
Despite the challenges Aldi repaid £100m in business rate relief to the government and increased its market share to 8.1 per cent.
As part of the billion pound expansion plans Aldi will open a checkout-free store in Greenwich, London