Aldi Invests In Britain

German discount grocery chain Aldi is committing $1.8 billion to Britain over the next two years, planning to open a new store every week in an effort to flood the market. With 100 new stores coming to Britain, the retailer also plans to open a new distribution center in the Midlands, create 2000 jobs next year and outpace UK competitors like Tesco ($TSCDY@UK), Morrisons ($MRWSY@UK), and Sainsbury’s ($JSAIY@UK). Sales for the chain rose by 10.2% in 2020, and those numbers should prove to rise with new store openings. One of the greatest advantages Aldi has over other UK retailers is its limited selection, often shielding the firm from supply chain issues caused by the COVID-19 pandemic and Brexit. Though Aldi is not publicly traded, its British invasion could lead to stock woes for other UK retailers.