German discount grocery store giant Aldi unveiled a major US expansion plan on Monday, aiming to make it the third-largest US grocery chain in five years. The planned $3.4 billion expansion will add nearly 900 additional stores and 25,000 new jobs, the company said in a statement.
It seems a bold move at a time when many traditional US retailers are battling to maintain revenues in the face of competition from online retailers such as Amazon. "We're growing at a time when other retailers are struggling," Aldi CEO Jason Hart said in a statement. "We are giving our customers what they want, which is more organic produce, antibiotic-free meats and fresh healthier options across the store."