Aldi UK to plough on with investment as profits fall

Aldi will keep investing in Britain, the German discount supermarket said Monday (September 16). That’s despite a 26% fall in profit in Aldi’s UK business as it paid the price of expansion and its pledge to have the lowest prices. Operating profit was down in 2018 more than $60 million from a year before to $246 million. Aldi blamed that on price cuts. The results haven’t reigned-in the firm’s UK ambitions. Aldi said Monday it wants 1,200 stores open in Britain by 2025. It also plans to invest $1.25 billion across the UK over the next two years. London is a key target – where Aldi said it will raise the pressure on rivals by increasing supermarket numbers from 45 to 100 by 2025. Aldi, along with German rival Lidl, has won market share from the UK’s so-called big four, including Tesco and Sainsbury’s, by aggressively opening new stores in the last decade.

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