Aldi has announced it will invest £550 million in expanding and improving its store and distribution network.

The discount supermarket estimates that new store openings this year will create over 1,500 new jobs, with more roles available in its office, current stores and regional distribution centres.

Aldi currently has round 1,000 stores in the UK and has a long-term target of 1,500 stores to meet demand.

In September 2023, Aldi announced it was going to spend £1.4 billion over the next two-years on an expansion across the UK after announcing record sales. In the 12 months to December 2022, the discount supermarket reported annual sales of around £15.5 billion, an increase of almost £2 billion on its previous financial year's results.

“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,” said Giles Hurley, chief executive of Aldi UK. “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.”

Last month, Aldi said it spent around £1.3 billion with British suppliers in 2023. The supermarket works with around 5,000 suppliers from the UK who provide more than three quarters of all items sold.

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