Toronto – Loblaw Companies Ltd. is expanding this year.
The company has announced that it will build 50 new stores and renovate or revamp more than 100 existing stores this year, reports The Canadian Press.
The additions will happen across the country and Loblaws estimates it will create about 5,000 jobs at its corporate and independently owned stores.
The CBC.ca reports that if construction jobs are added to the list of new jobs there could be as many as 20,000 new jobs created as a result of the company’s plans.
Loblaw says it plans to spend more than $1.2 billion on the initiatives in 2015.
CBC.ca adds that the company will also look to make more investments in its e-commerce offering, supply chain and IT infrastructure.
Loblaw banners include Loblaws, No Frills, Fortinos and Shoppers Drug Mart.
The Canadian Press reports that Loblaw and other Canadian retailers will benefit from Target’s decision to close all its Canadian stores, But Walmart Canada still remains a major competitor.
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