UK: Aldi to invest £300 million in stores

German discount chain Aldi has announced that it will be investing a sum of £300 million ($388 million) in its UK store network.

The first aim of the investment is to refurbish current stores by adding ‘food-to-go’ areas, increasing baby & toddler, wines and spirits range, as well as adding new colours, lighting and signage.

The retailer also plans to use the investment to increase its store count. The firm currently operates 659 stores around the UK and reportedly intends to further increase that number by 70, an initial step in a stated aim of reaching 1,000 stores by 2022.

Commenting on the investment, Aldi CEO Matthew Barnes said: “We’ve listened and we’re evolving our format for new and existing stores to deliver this, while staying true to our core principle of efficiency”.

Source: Reuters / ITV / ESM