Aldi set to invest £550m in store network

The retailer said this will include plans to open stores in new locations up and down the country, as well as upgrading its existing stores and distribution centres to support growth.

It would not confirm exact plans but said more details of locations would follow in due course.

Aldi's Donnington store reopened in November after a major refurbishment.

And a former independent electrical store in Sedgley – Gould's TV building – is being demolished to make way for a new Aldi as part of its plans for the West Midlands.

The business said new stores set to open in 2024 will create over 1,500 new jobs across the country, with further job opportunities in its current stores, Regional Distribution Centres and UK offices.

Aldi currently has more than 1,000 stores across the UK and is committed to continuing towards its long-term target of 1,500 locations to meet the demand for its unique high quality and affordable offering.

The announcement comes after Britain’s fourth largest supermarket recorded its strongest Christmas yet and invested more than ever before in the British suppliers and growers that provide around three quarters of all items sold.

Giles Hurley, CEO of Aldi UK and Ireland, 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.”

Aldi is on the lookout for freehold town-centre or edge-of-town sites that are around 1.5 acres and can accommodate a 20,000sq foot store with around 100 parking spaces.

Ideally, each location will be near a main road with good visibility and access.