IN THE NEWS ALDI to open Grocery Outlet: 800 more stores 60 new stores by before the end of 2024 2028 By Hernando Ramírez-Santos By Abasto o l l o w i n g stable at 30.2%. Grocery Outlet's The company opened announcement of 13 new stores, ending the i s c o u n t "With this commitment the acquisition of quarter with 468 stores in supermarket to add 800 stores over the United Grocery nine states. Net income chain ALDI plans next 昀椀ve years, we will be FOutlet and its 40 decreased 11.2% to $14.1 to add 800 stores where our shoppers need us stores operating in the million, or $0.14 per nationwide by while positively impacting southeastern US, the diluted share. Dthe end of 2028 the communities we serve," company said that during Adjusted EBITDA through new stores said Jason Hart, CEO 2024 it plans to open a total decreased 6.3% to $50.9 and transformations of of ALDI. of 60 supermarkets. The million, or 5.1% of net sales. existing stores. 吀栀e discount retailer said discount retailer revealed Adjusted net income In addition, ALDI it will invest more than $9 its growth plans during the decreased 19.6% to $18.2 reported that it completed billion over the next 昀椀ve presentation of its fourth million, or $0.18 per adjusted the acquisition of years to expand its presence quarter and fiscal 2023 diluted share. Southeastern Grocers and across the country. 昀椀nancial results. "Going forward, we are its Winn-Dixie and Harveys ALDI plans to grow in excited about the acquisition Supermarket chains, which the Northeast and Midwest Grocery Outlet's of United Grocery Outlet will strengthen its presence by adding about 330 stores 昀椀scal 2023 and the platform it will in the Southeast region in by 2028. fourth quarter provide us to support the coming years. It will also expand in the highlights: future store growth in the The phased store West by adding more stores Net sales increased 6.3% Southeast," said RJ Sheedy, conversion process will in Southern California and to $989.8 million. CEO of Grocery Outlet. begin in mid-summer. Phoenix and entering new Comparable store sales This acquisition will Around 50 supermarkets cities such as Las Vegas. increased 2.7%, driven by a expand Grocery Outlet's are expected to begin Hart recognized 7.5% increase in the number store reach in the states conversion in the second customers as drivers of its of transactions, partially of Tennessee, North half of 2024, with the growth. o昀昀set by a 4.5% decline in Carolina, Georgia, Alabama, majority reopening as ALDI average transaction size. Kentucky and Virginia. in 2025. Gross margin remained 2020 MMAAYY//JJUUNNE 2E 200224 4 AABBAASSTOTO..CCOOMM