Aldi’s U.S. sales rise in ‘double digits’ as shoppers seek cheaper groceries

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The German-owned discount supermarket chain’s U.S. stores added 1 million new customers, including more middle- and high-income shoppers, in the last 12 months, Scott Patton, Aldi’s vice president of National Buying, told journalists at a media event.

Discount stores such as Aldi and Dollar General Corp (NYSE:DG) tend to perform well during economic turmoils as cash-strapped consumers seek cheaper alternatives to ease their financial burden.

Dollar General lifted its annual comparable sales forecast last month, encouraged by consumers flocking to its stores for everything from groceries to household supplies.

Higher gas prices have also pushed more Americans to shop at Aldi, usually located in more metropolitan areas, rather than drive to a large Walmart (NYSE:WMT) Supercenter which tend to be located outside of major urban regions.