ALDI is creating 6,000 jobs at new and revamped stores as shoppers switch to cheaper groceries.
The discounter overtook Morrisons to become the UK’s fourth largest supermarket chain last year.
Sales boomed on the back of shoppers wanting to cut food bills amid record high inflation.
Chief executive Giles Hurley said: “Demand for Aldi’s never been higher as more realise they can make significant savings without compromising on quality.
“It’s more important than ever that we’re making it even easier for more people to shop with us — including by opening dozens of new stores.”
Aldi plans 40 new stores this year at sites including Castle Donnington in Leics, Slough in Berks, Porthcawl in South Wales, Norwich, Newcastle upon Tyne and Southampton.
There are also new jobs at offices and distribution centres.
Aldi already has more than 990 shops and employs around 40,000. Its sales are growing four times faster than Tesco’s, rising 27 per cent last month compared to the previous year. Its hiring spree contrasts with rivals who have cut thousands of jobs to reduce costs.
Aldi can sell cheaper food than other chains because it has a lower cost base. It does not provide online or convenience outlets and has smaller stores and product ranges.
It is owned by a private German family which is tolerating losses in exchange for rapid market share growth.
Tesco and Sainsbury’s have hit back by launching Aldi price match schemes.
Boohoo cut
BOOHOO has set a new £175m bonus plan with easier targets to hit for bosses.
The online fashion retailer — which has used Kourtney Kardashian in campaigns, above — had an award scheme that would pay a £50m bonus to boss John Lyttle if its share price rose to £5.6bn.
But the business is now only worth £605.7m after shares fell by 88 per cent from its pandemic peak. Boohoo has now slashed its thresholds so £17.5m is paid if it doubles its value to £1.2bn. If the market cap hits £5bn then £175m will be shared.
Mr Lyttle would get £50m, finance chief Shaun McCabe £25m and co-founder Carol Kane £20m. Fellow co-founder Mahmud Kamani’s son Samir, who runs BOOHOOMAN, would get £12.5m.
HOLIDAYS SOAR
NEARLY 40 per cent of Brits have already booked a holiday this year despite the cost of living crisis, according to a Nationwide poll.
The urge for a getaway at home or overseas caused the number of holidaymakers to rise by 43 per cent and airline travel to soar by 69 per cent compared to last year.
Airlines reported a rush of bookings last month after Covid restrictions lifted.
Spending on essentials also increased with childcare costs up 13 per cent and mortgage payments 17 per cent.
Banker’s ‘princess emails’
AN ex-boss of Barclays was sent pictures of young women by the late paedophile Jeffrey Epstein — and shared messages about Disney princesses, it emerged in a lawsuit.
Jes Staley allegedly wrote in a 2010 email to Epstein: “That was fun. Say hi to Snow White.” Epstein asked: “What character would you like next?” Mr Staley said: “Beauty and the Beast.”
The emails were uncovered in a lawsuit arguing Mr Staley’s employer at the time — Wall Street bank JP Morgan — was liable for facilitating Epstein’s sexual abuse.
Mr Staley is not a defendant in the lawsuit and has consistently denied knowledge of abuse.
He stepped down after five years of running Barclays to contest the findings of the UK financial watchdog’s probe into his links to the disgraced financier who hanged himself in jail.
Barclays still paid Mr Staley £2.3million last year including £107,000 in relocation support, the bank’s accounts revealed.
New Look axing 500
AROUND 500 jobs are set to go at New Look after it axed the night-shift slot at its warehouse in Newcastle.
The fashion retailer said it was overhauling working hours to focus on its online trading and will instead create 300 daytime roles.
The news comes as Wilko also cut 400 jobs to help reduce its costs. The homewares firm recently secured a £40million loan to help with a cash squeeze.
No price break
KITKAT maker Nestle will keep pushing prices higher.
The Swiss producer of Quality Street and Milky Bar has already raised prices by 8.2 per cent in the past year.
But it says that was not enough to cover its costs.
Nestlé’s results showed households were starting to cut back as a result of higher prices, with sales volumes slipping by 2.6 per cent.
Nestlé boss Mark Schneider said there were “some limited signs now of trading down”.
Heinz said yesterday it will stop increasing prices.
