SUBSCRIBERS
Aldi raises stakes in US price war with Walmart
The German grocery chain intends to remodel 1,300 US stores and open 400 new ones
Published Thu, May 11, 2017 · 09:50 PM
Wheaton, Illinois
GERMAN grocery chain Aldi Inc is trying to beat the world's biggest retailer at its own game: low prices.
Already with 1,600 US stores, Aldi has set a minimum target of selling groceries at a 21 per cent discount to its US rivals, including Walmart Stores Inc, chief executive Jason Hart told Reuters.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue