Aldi Plans $3.4B Growth Spurt
ByAldi has just taken its bold U.S. expansion strategy to a new level. The German discount grocery store chain revealed that it will invest $3.4 billion to increase its presence to 2,500 stores by the close of 2022. The news comes just four months after the company announced its $1.6 billion plan to remodel 1,300 shops by 2020.
Aldi entered the U.S. market in 1976 with a store in Iowa, and until a few years ago, the company had been increasing its footprint at a slow but steady pace. “We pioneered a grocery model built around value, convenience, quality and selection and now ALDI is one of America’s favorite and fastest growing retailers,” Jason Hart, CEO of Aldi, said in a prepared statement. “We’re growing at a time when other retailers are struggling.” Per a study released by Market Force Information in May, Aldi ranks as America’s fifth favorite grocery retailer, just below H-E-B and right above Harris Teeter…
