Aldi to open 500 new stores in £550m expansion drive as the supermarket wars hot up

Aldi has pledged to invest more than £500m in store openings as the supermarket wars intensify.

The discounter is investing £550m this year and hopes to open 500 more stores to take its total number to 1,500. Aldi said its expansion drive will create more than 1,500 jobs this year.

Aldi’s sales have risen in recent years as cash-strapped families have turned to cheaper supermarkets amid the cost of living crisis.

It even replaced Morrisons as the UK’s fourth largest retailer in September 2022.

But industry data shows Aldi’s market share has declined in recent months as traditional rivals Tesco and Sainsbury’s have sought to increase their competitiveness.

Giles Hurley, head of Aldi UK and Ireland, said: “There are still areas of the country that do not have Aldi, or that need more or larger stores to meet demand.”