You are here: Home - Household Bills - News -

Aldi to open new ‘local’ branches as it plans to double London stores

Written by:
Aldi has said it plans to more than double its store footprint in London, after posting “record financial results”.

The retailer said it will increase its store count within the M25 from 45 to 100 by the end of 2025.

It will open both standard-sized stores and new, smaller-format ‘local’ stores on London high streets.

Aldi said trials of its ‘local’ format, which are half the size of a typical store and stock around 1,500 products, had “exceeded expectations” since they began in March.

The UK’s fifth biggest supermarket posted an 11 per cent increase in sales to £11.3bn in the year to 31 December 2018. However, its pre-tax profit fell by 26 per cent to £197.9m as a result of price cuts and investment in infrastructure.

Chief executive, Giles Hurley, said: “Whilst our expansion will continue to reach every part of the UK, we’re increasing our focus on London, where our market share is just 3.4 per cent, compared to 8.1 per cent nationally.

“London shoppers regularly tell us they would switch to Aldi if there was one nearby, so there is clearly a significant growth opportunity for us in the capital.”

New stores in Sydenham, Blackheath and Watford have already been confirmed.

The supermarket said it invested £531m last year, with a further £1bn planned over 2019 and 2020 in new stores, store upgrades and distribution centres.

It said its UK-wide expansion would create more than 5,000 new jobs over the next two years.


There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week