Aldi unveils €73m Dublin expansion plan as retailer sees sales growth

The discounter Aldi recorded sales growth of 2 billion euros in the Irish market in 2021, 1.1 percent more than in the previous year.

According to the retailer, this reflected an increase in sales of 23 million euros.

The operating result fell by 44.8 percent to 39.3 million euros in the same period. This has been attributed to investments to keep prices down for buyers, as well as employee compensation.

Last year, Aldi recorded a 4 percent increase in the total number of customers.

The discounter has also recorded further sales and customer growth in the past few months in view of the ongoing cost of living crisis.

According to research group Kantar, the retailer now holds a 12.7 per cent market share in Ireland, while sales are currently growing at 3.5 per cent.

In an update today, the discounter also revealed that it plans to invest €73m in the Dublin market, with the company now aiming to open 11 new stores in the capital over the next five years.

The retailer currently has 24 stores in Dublin and employs 670 people

Aldi is currently reviewing 25 locations for these stores, with terms now agreed for a store in Adamstown.

Group chief executive Niall O’Connor said the retailer made “significant investments” in 2021 despite the impact of the pandemic at the time.

“We plan to continue on this path by prioritizing our 2023 target to expand in Dublin,” he added.

“We will continue to invest in the interests of our customers and keep prices low despite the current challenges.”

https://www.independent.ie/business/irish/aldi-unveils-73m-dublin-expansion-plan-as-retailer-records-sales-growth-42178500.html Aldi unveils €73m Dublin expansion plan as retailer sees sales growth

Fry Electronics Team

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