Aldi UK plans to open 70 new stores next year as it eyes 1000 by 2020.

The German discount grocer says its sales increased by 13.5 per cent to £8.74 billion last year as it grew market share and continued to expand its store network.

Gross profit, however, fell 7 per cent to £324.5 million due to investment in its distribution operations.

Aldi UK currently has 726 stores.

“Our growth is accelerating, thanks to the hundreds of thousands of new customers switching their shop to Aldi,” said Matthew Barnes, Aldi UK and Ireland CEO.

“This is happening right across the UK and is all down to a simple, straightforward commitment – products comparable to the leading brands and supermarket premium ranges at the lowest prices in Britain.

“We’re doing everything we can to insulate customers from those cost increases, making sure our prices are the lowest in the UK, every day of the year.

“At the same time, we’ve been improving the quality of our range and introducing the new products our customers have asked for. The result is a carefully selected range of exclusive own-label brands and award-winning products.”

This story first appeared on sister site Inside Retail Asia.

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