Aldi to invest in store revamps as sales grow 12%

ALDI has continued to grow its sales, announcing a 12% increase last year to £7.7bn.

The German supermarket group, which has its UK headquarters in Atherstone, Warwickshire, has said it will spend £300m on updating its stores.

It will also invest in its product lines, spending more on fresh produce, alcoholic drinks and ready meals.

Its investments have affected profits slightly, with operating profits down 1.8%, to £256m.

The retailer, which is aiming to increase its number of stores from 659 to more than 1,000 by 2022, said it will open 70 stores in the next year.

More to follow.