Aldi Revenues Grow 11.4% Despite Specials Threat From Coles
Aldi who are pushing hard in the special buys market up against Coles who moved to copy the German Companies unique special products offering that this month includes ski gear and appliances, saw revenues climb 11.4% last year to $10.729 Billion.
In March, Aldi marked 20 years of operations in Australia, when CEO Tom Daunt told the market that his operations had for the first time chalked up $10bn in annual revenue to December 31, up more than 10 per cent on the previous year.
A major supplier to Aldi is Sydney based distributor Tempo who sell their Bauhn TV’s and Stirling appliances around the world at Aldi stores.
Normally the German-family-owned group is notoriously secretive about its financials with the 2020 COVID-19 year seeing revenues jump by $1.1bn jump from the $9.628bn turnover recorded in the 2019 year.
Employees at the big retail group were cut by 4 per cent in Oz to 13,378 working at the group’s 570 stores.
Earlier this week Aldi Australia said that the Company has hit the target of powering all of its operations with 100 per cent renewable electricity six months ahead of schedule, marking a national first for major supermarkets and setting a cracking pace for the rest of corporate Australia.
This was well ahead of the targeted end-of-2021 deadline, which the company set for itself in August of last year.