UK: Aldi profits up as shoppers seek bargains
Hard discounter Aldi has enjoyed a rise in profits, figures show
Profits at Aldi have risen as squeezed British shoppers look for ways to lighten the economic load of their trolleys.
Accounts filed at Companies House, the UK government business body, show that the hard discounter has reported an operating profit of GBP18.7m (US$28.8m) this year, compared with an operating loss of GBP21.2m the previous year. The figures show that sales have increased 4.6% to GBP2.13bn.
Commenting on the results, Matthew Barnes and Roman Heini, Aldi's managing directors, said: "We initiated a disposal programme of older stores and assets surplus to requirement two years ago.
"This programme has continued throughout 2010 and accounts for the whole of the loss. In 2011 we are beginning to see the benefit of the investment in our products and stores, with both increased turnover and profitability."
Switzerland's largest retailer Migros Group has booked a 22% drop in profit for 2011, as the strong Swiss franc and "consumer tourism" hit the group's results....
Asda has grown its market share to an all-time high as the impact of last year's acquisition of Netto's UK stores boosted sales....
Tesco has seen its share of the UK grocery market fall to its lowest level for seven years, according to data issued by Kantar Worldpanel....
- Price an underlying tension across European FMCG
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on Brexit's policy impact
- Interview: UK trade body on the impact of Brexit
- It won't just be Unilever to push for Brexit hikes
- Nestle lowers outlook on "softer environment"
- UK announces "action plan" to drive food exports
- Kraft Heinz: Innovation more important than ever
- Online snack seller Graze makes US retail debut
- Abbott sees international nutrition sales fall
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review