No, Aldi is Not Closing Stores in 2024 Despite False Rumors

When you operate over 2,100 grocery stores across 38 states like Aldi does, you’re bound to attract your fair share of headlines. While most cover Aldi’s relentless expansion in recent years, some false rumors have spread about potential US closings.

Rest assured the budget-friendly chain is not shuttering stores, and instead plans to open another 150+ locations in 2024.

Below we’ll get to the bottom of the misinformation and explore why Aldi’s unique business model continues fueling aggressive growth plans nearly 50 years after the first US location opened.

Are Recent Reports of Aldi Closings Actually True?

In August 2022, several convincing clickbait articles began circulating about Aldi apparently planning to close “every single store” that year.

The shocking claim spread rapidly online and even fooled some employees. Yet with context, it becomes obvious these rumors lack any merit:

• Aldi registered over $100 billion in global sales in 2021 and generates some of the highest revenue per store worldwide

• They hired over 5,000 new US employees in 2021 alone to support adding dozens of stores monthly

• The chain invests over $5 billion from 2016-2022 remodeling existing stores and constructing new ones

So why do these false stories often gain traction? When you don’t provide public earnings reports like other grocers and retailers, it can spur speculation and misinformation. Success at Aldi’s scale also breeds competition angling for attention.

Rest assured Aldi maintains an ambitious vision to become the 3rd largest US grocer by store count by 2025. And they show no signs of closing up shop.

Aldi Has Major Expansion Plans Fueling 2023 Growth

In 2024, Aldi is poised to continue growing at a rapid clip through execution of its expansion strategy:

• Open More Than 150 New Stores – Adding locations across 36 states like Florida, Texas, and California
• Hire Thousands More Employees – Creating over 5,000 new store associate roles plus corporate staff
• Invest Billions Upgrading Stores – Remaining committed to $5 billion initiative to remodel 1,300 older stores by 2022 for a modern shopping experience
• Build New Distribution Centers – Expanding supply chain infrastructure for extended geographical reach

Behind the investment sits nearly 50 years of history in the US, starting with just a single Iowa store in 1976. Yet the chain actually traces back to Germany, with Aldi Sud and Aldi Nord forming after brothers Karl and Theo Albrecht split their mother’s corner grocery store into two entities after World War 2.

The “special purchases” model offering a lean selection of private label items at deep discounts carries on in Aldi operations today. It turns out the formula appeals to modern consumers more than ever.

Why Aldi’s Unique Approach Leads to Success

A big driver of continued growth comes from the Aldi business model itself. Key aspects include:

• Limited Selection – Offering just 1,400 nationwide private label SKUs total compared to 40,000+ at traditional supermarkets
• Productivity Focus – Using wider aisles and simple displays to facilitate restocking efficiency
• Discount Pricing – Passing supply chain and operating cost advantages to shoppers

This leads to prices approximately 40 percent less than leading grocers. When you can save 30-50% filling your grocery cart, it wins loyal budget-focused shoppers in any economy.

And Aldi attracts higher income shoppers too with award-winning exclusive brands. In fact, the chain over-indexes for college educated millennials compared to competitors.

The approach works overseas too, with Aldi ranking as the 5th largest retailer worldwide by store count according to Deloitte.

Thriving Overseas and Projecting Higher Future Growth

While rumors swirled domestically, international operations hum along serving millions of satisfied customers:

• Over 10,000 Stores in Europe – Aldi Nord and Aldi Sud dominate in Germany along with prominent UK presence
• Nearly 600 Stores in Australia – Opening multiple new locations annually down under
• Local Assortments and Brands – Carrying many products tailored for each regional market

Aldi also continues growing faster than rivals in foreign markets. The parent companies reportedly topped 8.5% year-over-year sales growth last year internationally versus 6.3% average comparable growth for supermarket competitors.

Put it all together along with US momentum, and Aldi global sales should eclipse $120 billion by 2025 per projections.

The Future Looks Bright for the Discount Grocery Leader

Given Aldi’s dedicated expansion efforts, operational cost advantages, and willingness to adapt to consumer preferences like ecommerce, the brand sits well positioned for many years of prosperity.

They should achieve the coveted spot of 3rd largest US grocer before mid-decade, now already holding an estimated 9% market share today. And innovations like checkout speed promise to cement Aldi’s Category Captain status for one-stop grocery value shopping.

So when you next hear rumors around Aldi store closings, don’t believe the headlines. Growth and investments in delivering shoppers value for money guarantee plenty more opportunities to save on your grocery runs for years to come!