Aldi plans to open 100 new US stores this year

Aldi, which has more than 2,000 stores in 37 states already, said its new stores will be located in Arizona, California, Florida and the Northeast region. The privately-held grocer says it’s on track to become the third largest supermarket chain behind Kroger (KR) and Walmart (WMT) in terms of store count, with 2,500 stores in the US by the end of 2022.

Aldi’s expansion comes as the coronavirus pandemic has boosted grocery chains. With many restaurants shuttered and consumers stocking up on food and grocery essentials to eat at home, sales at grocery stores increased 7.9% in December from the same month in 2019, according to the most recent data from the US Commerce Department.