Aldi has said it plans to open 100 new stores with £1.3 billion of investment by the end of next year, as it revealed sales continued to jump higher.

The discount supermarket said it plans to create 4,000 jobs next year as part of the expansion plan, which is part of long-term plans to grow to a portfolio of 1,200 stores by 2025.

Aldi will drive investment into creating and upgrading stores, distribution centres and innovation across its operations, it said.

The update came as Aldi reported that sales increased by 8% to £12.28 billion in 2019.

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It saw pre-tax profits jump by 49% to £271.5 million for the year.

The retailer, which has seen sales continue to grow through the pandemic amid strong demand for groceries, committed to keeping its prices "the lowest in the market" amid pressure on household budgets.

Major grocery rivals, including Tesco and Morrisons, have pushed their prices lower in recent months in a bid to stem strong growth by Aldi and fellow German discounter Lidl.

However, both Aldi and Lidl have failed to benefit substantially from the surge in demand for online orders and home deliveries since the pandemic fully impacted the UK.

In May, Aldi revealed plans to deliver groceries to homes in the UK for the first time through a partnership with Deliveroo.

Giles Hurley, chief executive for Aldi UK and Ireland, said: "The response to the challenge presented by the Covid-19 pandemic was both heroic and historic.

"If there is a positive to take from the situation, it's that supermarkets, suppliers and shoppers can overcome the greatest of challenges when we work together.

"With the UK's economic outlook increasingly uncertain, families are more concerned about their grocery bills than ever.

"We've seen before that our customers need us most in times of financial hardship, which is why our commitment to remain Britain's lowest-priced supermarket is more important than ever."

Spirits giant Diageo has lifted its trading forecasts after strong sales in the US drove a "good start" to the current financial year.

The Johnnie Walker and Guinness owner said it has been buoyed by "robust demand" in the off-trade, which covers supermarkets and retail stores, despite the continuing impact of the coronavirus pandemic.

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Ivan Menezes, chief executive of the company, said it has also benefited from the gradual reopening of pubs and bars in most markets, with the pace of its recovery in different regions being driven by the easing of restrictions.

US trading has been "ahead of our expectations" due to resilient consumer demand and continued growth in spirits sales, it said.

It said an increase in retailer confidence has seen higher stock levels in supermarkets and stores, while bars and restaurants have now reopened in all US states.

Off-trade sales have been robust across Europe, while it has also benefited from the easing of lockdown restrictions on bars, pubs and restaurants across the continent.

Diageo said travel retail has been "severely impacted" by the pandemic, with travel restrictions hammering passenger numbers.

In China, the company has seen sales continue to recover, although larger events and banquets have been returning particularly slowly.

Mr Menezes said: "Our outlook for the first half of fiscal 2021 has improved since the year-end, reflecting the good start to the year, particularly for our US business.

"I am pleased with the resilient performance of our business in the current challenging operating environment and encouraged by our progress.

"While the pace of recovery is uncertain, I am confident in our strategy, the long-term fundamentals of our business and Diageo's ability to emerge stronger."

US casino owner Caesars has said it is in "advanced discussions" to buy gambling firm William Hill for around £2.9 billion.

Last week, William Hill told investors it had received takeover approaches from Caesars and private equity giant Apollo.

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Caesars said the board of directors at William Hill have indicated the offer is at a level that "they would be minded to recommend to shareholders".

The US firm said the offer would be 272p for each William Hill share, representing a 25% premium on Thursday's closing share price of 217.6p.

However, shares in William Hill surged to 312.2p at the close of play on Friday on the back of the takeover speculation.

Caesars said it has completed due diligence and would expect any deal to be completed in the second half of 2021.

The US company already owns a 20% stake in William Hill's US operations, which also have exclusive rights to operate sports betting under the Caesars brand.

Tom Reeg, chief executive of Caesars, said: "The opportunity to combine our land-based casinos, sports betting and online gaming in the US is a truly exciting prospect.

"William Hill's sports betting expertise will complement Caesars' current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market.

"We look forward to working with William Hill to support future growth in the US by providing our customers with a superior and comprehensive experience across all areas of gaming, sports betting, and entertainment."

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