Aldi UK says shoppers trading up as inflation eases
Adds CEO comments in paragraphs 4-7
By Paul Sandle
LONDON, Sept 9 (Reuters) -Supermarket group Aldi UK said its prices this summer were on average lower than a year ago, easing some of the pressures on its British shoppers who were treating themselves to more of its premium ranges.
The country's fourth largest supermarket group reported on Monday a 16% rise in sales in Britain and Ireland to 17.9 billion pounds ($23.5 billion) in 2023, a year that saw grocery price inflation peak at 17.5% in March.
Chief Executive Giles Hurley said sales growth had slowed this year as inflation sharply declined, with the most recent 12-week data showing Aldi was achieving growth of 0.5%, compared to two-year growth of over 20%. That put it behind some of its rivals, including Lidl.
Hurley said the slowdown was not surprising, given Aldi was reducing prices ahead of the market.
"The latest data from Kantar shows Aldi is the only supermarket that's not inflating, while our own internal data shows that over the summer our prices were lower on average than they were a year ago," he told reporters.
He said times were still tough for millions of families across Britain and Aldi still offered unrivaled value for them.
"(But) I think some customers are feeling the effect of inflation easing, and they're choosing to trade up or possibly choosing to treat themselves at home instead of that restaurant experience in the hospitality sector," he said.
The company, which is owned by Germany's Aldi Sud, trails Tesco TSCO.L, Sainsbury's SBRY.L and Asda in sales.
Pretax profit in 2023 more than trebled to 536.7 million pounds, as its operating margin recovered to 3.1%, after falling to 1.2% in the prior year, largely due to pandemic-related costs.
Hurley said he was confident total sales would increase this year as Aldi opens another 23 stores, implements further price cuts and unveils its Christmas range.
Aldi will end 2024 with 1,050 stores in Britain, he said, adding its ambition to reach 1,500 was unchanged.
($1 = 0.7625 pounds)
Reporting by Paul Sandle; editing by Sarah Young and Emelia Sithole-Matarise
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
