Aldi will invest more than £550m into “expanding and further improving” its store and distribution network this year, creating more than 1,500 new jobs across the UK.
The discounter said in a statement today that the investment will include the opening of new stores across the country as well as the upgrading of some existing stores and warehouses to “support growth”.
The new stores set to open in 2024 will create more than 1,500 vacancies and there will be further opportunities in Aldi’s current stores, regional distribution centres and UK offices.
Aldi confirmed it is eyeing town-centre or edge-of-town locations that are around 1.5 acres in size, can accommodate a 20,000 sq ft store and have around 100 parking spaces.
The discounter added that “ideally, each location will be near a main road with good visibility and access”.
Aldi’s store estate currently totals more than 1,000 in the UK and the investment comes as part of its bid to achieve its long-term target of 1,500 locations to “meet the demand for its unique high-quality and affordable offering”.
Aldi UK and Ireland chief executive Giles Hurley said: “We’re continuing to welcome more and more new customers through our doors – with people coming for our low prices but staying for our award-winning quality and British sourcing.
“However, there are still areas of the country that don’t have an Aldi or that need more or larger stores to meet demand. That is what our 2024 expansion plans aim to address.
“We now have more than 1,000 stores across the UK but there are plenty more Aldi stores still to come, in 2024 and beyond.”
The announcement comes after the discounter recorded sales of more than £1.5bn for the “first” time in the run-up to Christmas in what the retailer called its “best-ever” festive season.