By Michael Susin
Aldi said that sales last year reached a record high as rising costs of living pushed consumers to discount products.
The British branch of the German low-cost supermarket chain said Monday that 2022 sales rose to 15.5 billion pounds ($18.97 billion) from GBP13.6 billion in 2021, as one million more costumers visited its stores.
Operating profit increased to GBP178.7 million from GBP60.2 million.
Aldi invested over GBP350 million in price reductions so far this year across 650 items, with further cuts expected in the run-up to Christmas, it said.
Market research firm Kantar said in its latest report that Aldi sales grew 17% on month in August, with its market share at 10%.
“Although inflation is easing, households are still under real pressure from higher living costs. As a result, Britain is shopping very differently to how it did 18 months ago–fewer trips, more own label products, and switching supermarkets in search of better value,” Aldi U.K. and Ireland Chief Executive Giles Hurley said.
Aldi U.K. added that it will invest GBP1.4 billion over the next two years, including in the expansion of its distribution and store network, and the improvement of its existing stores and technology infrastructure.
With the investments, Aldi expects to create 6,000 new jobs in total this year, adding to the 6,000 permanent roles created last year.
Write to Michael Susin at [email protected]
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