Dive Brief:
- Aldi posted a 65.2% rise in profit and a 36% rise in sales in the U.K.
- The German discount grocer has led a total renaissance in the retail sector in England — pulling market share from that country's four grocery giants: Asda (owned by Wal-Mart), Morrisons, Sainsbury's, and Tesco.
- Aldi also announced it was on track to open 54 stores in the U.K. this year, and another 60 to 65 next year.
Dive Insight:
Aldi's rivals have been in a price-cutting frenzy as they seek to hold on to customers. It's apparently not working. Research last month from Kantar showed that half of the British population now shops at Aldi or its fellow deep-discounting German import, Lidl.
And Aldi, which is planning a major expansion in the States, is winning fans here too.