Aldi Takes on Wal-Mart

Aldi is coming after Walmart's grocery market share, as the German discount retailers says it will invest $3.4 billion to expand its U.S. presence.

Author:: TheStreet Staff
Publish date:: Jun 12, 2017 9:22 AM EDT

Aldi is coming after Walmart's (WMT) - Get Report grocery market share, as the German discount retailers says it will invest $3.4 billion to expand its U.S. presence.

The privately-held German grocery store said it plans to increase its store base to 2,500 by 2022, the retailer said Monday. Aldi currently operates 1,600 U.S. stores.

In February, the retailer announced it was investing $1.6 billion in its U.S. stores, with plans to remodel and expand more than 1,300 stores by 2020.

The new openings are expected to create 25,000 jobs over the next five years and make Aldi the third-largest grocery chain operator in the U.S. behind Walmart and Kroger (KR) - Get Report

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This article was written by a staff member of TheStreet.