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Retail

Aldi Denmark Continues Business Turnaround, Although Work Still To Do

Aldi Denmark has reported a full-year deficit of DKK 342 million (€46 million) in full-year 2020, an improvement on its 2019 performance, as the discounter continues to seek to "plug the hole", according to its CEO, Finn Tang.

The discounter's 2020 performance is DKK 170 million (€22.9 million), or 33%, stronger than the previous year, with revenue and earnings showing a 'marked improvement' over the course of the year, it said, while also noting the positive benefit of the pandemic on grocery sales.

'However, the positive development does not change the fact that Aldi Denmark is seen to deliver a significant deficit in 2020, it added.

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