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Aldi's sales and profits rise as it looks to double UK stores

Discount retailer Aldi saw its sales rise by 29.4% to £2.76 billion in the year to end December 2011 as it benefited from a £30 million store refit and expanded its customer base to include more affluent shoppers.

GENERAL MERCHANDISE

Aldi's sales and profits rise as it looks to double UK stores

According to accounts filed at Companies House, the retailer’s operating profit surged from £18.7 million to £102.9 million in the year.  Post-tax profit reached £57.8 million compared with a £56 million loss in the previous year when the retailer suffered a £58.5 million property writedown.

Aldi also laid out its plans to potentially double the number of UK stores during the next ten years and said it would invest £181 million in opening 40 new stores by the end of 2013. This will take the total number of stores in the UK to 500 and create 4500 jobs.

Roman Heini, UK joint managing director, said the retailer was winning customers from "basically all other retailers" as it lured more affluent customers to its stores by stocking a selection of more upmarket products in addition to its value ranges.

He added: "We’ve seen a shift in the socio-demographics. Obviously we have kept the existing customers, so we still have the C1, C2 and D customers,  but we certainly now also see more A and especially B customers in our existing stores and also in the stores we have opened this year so far."

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