Aldi’s financial woes in Denmark continue

German supermarket chain expects better financial result in 2014

Aldi was last year unable to turn around its financial woes in Denmark, posting a record 228 million kroner loss for 2013.

Aldi's turnover in Denmark fell from 3.6 to 3.4 billion kroner last year, which means the German supermarket giant has lost 400 million kroner in the Danish market over the past four years.

“There has been a slight decline in turnover, which is primarily connected to the closures of older shops,” Aldi explained in its press release. “The result was expected and is due to rising costs and large investments.”

READ MORE: Overseas buyers scooping up Danish companies in record numbers

A better 2014
The larger investments included 111 million kroner spent on renovations that Aldi earmarked for the modernisation of its remaining shops in Denmark.

Aldi was among the first supermarkets to promote a discount concept in Denmark, but has been overtaken by other discount competitors in recent years, which in turn has led to the modernisation efforts.

Hans Erik Hansen, the head of Aldi in Denmark, said that he expected a better financial result for the supermarket in 2014.

Fakta was another supermarket to suffer in 2013, while Rema 1000 and Netto enjoyed marked progress.

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