UK DIY News
Discounter Expansion Continues As Aldi Confirms Plans For Over 150 New Stores
Aldi has confirmed its intention to double the size of its store network in the London region, supported by a £1bn investment over the next two years.
The discount grocer's presence in Greater London is currently 45 stores, with a target of 100 stores by the end of 2025. New stores are already planned for Blackheath, Sydenham and Watford.
Aldi also confirmed its intention for an additional 100 stores across the UK over the next two years. There are currently 840 stores in the UK and Ireland.
Giles Hurley, Aldi UK and Ireland CEO, 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.”
"For almost three decades we’ve proven that investment equals growth – investment in our infrastructure, our people and our prices.
“The commitment we have made to our customers to continue investing in the UK over the coming years remains as strong as ever."
In its latest results, Aldi reported sales of £11.3bn for the year ended 31st December 2018, up 11% on the previous year. Investments in infrastructure and promotions resulted in profits dropping by 18% to £182.2m."
Discounters Taking on Former DIY Stores
Discounters, including Aldi, Lidl, B&M, Home Bargains and The Range, have been taking advantage of the raft of DIY store closures in recent years, with many taking on former Homebase units as they close.
Recent examples include:
September 2019 - Home Bargains Opens in Former Homebase and Wickes Stores
September 2019 - B&M Plans Garden Centre at Former Ipswich Homebase
August - Home Bargains Opens in Former Homebase Store in Macclesfield
July 2019 - Discounter Moves on Former Droitwich Homebase
July 2019 - The Range Opens New Yeovil Store on Former Homebase Site
Source : Insight DIY Team
Image : jax10289 / shutterstock.com
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