Aldi UK to Ramp up Store Expansion Despite Profit Fall
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The British arm of German discounter Aldi said it would invest 1.6 billion pounds ($2.2 billion) over the next two years to accelerate store expansion, doubling down on its commitment to the UK market despite a 21% drop in annual profit.
Aldi UK, Britain's fourth largest grocer, on Monday said operating profit dropped to 435.5 million pounds ($590.6 million) in 2024, which it said reflected price cuts, investment in infrastructure and higher staff pay. It underperformed listed rivals last year, which didn't suffer declining profits...
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