Aldi to invest £550m in UK store network

Aldi has set out plans to invest more than £550m in expanding and improving its UK store and distribution network this year. The discount grocery retailer intends to open stores in new locations, as well as upgrade its existing stores and distribution centres to support growth.  Aldi, which has more than 1,000 existing stores across the UK, has a long-term target of 1,500 locations. It is looking for freehold town-centre and edge-of-town sites that measure around 1.5 acres that can accommodate a 20,000 sq ft store, with around 100 parking spaces. Each location would ideally be near a main road, with visibility and access. The retailer said the stores that are set to open this year will create more than 1,500 jobs. Giles Hurley, chief executive of Aldi UK and Ireland, said 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,” he said. “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.”