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Story summary
- Aldi opened a Manhattan store called Ellery, selling a $4 almond butter that normally retails for $22.
- The new outlet advances Aldi’s $9 billion plan to open 800 U.S. stores within five years.
- Location analytics show Aldi attracts shoppers earning $75,000-$125,000, a segment that has begun trading down amid inflation.
- Because Manhattan rents average $350-$700 per square foot, Aldi trucks inventory from South Windsor, Connecticut, to keep prices low.
