Grocery chain to invest $1.3 billion into the Canadian economy
Loblaw Companies Limited will spend $1.3 billion to open new stores, renovate more than 500 existing stores and offer more fresh food at select Shoppers Drug Marts.
Brampton, Ont. – One of Canada’s largest retail chains is investing approximately $1.3 billion into the Canadian economy.
Loblaw Companies Limited, now a food and pharmacy retail leader, will use the investment to create an estimated 10,000 retail, trade and construction jobs.
The investment will expand and improve the company’s network, including properties owned and operated by Choice Properties REIT.
Loblaw says in a statement that it expects to open 30 new stores and renovate more than 500 existing stores, including the continued roll out of Click & Collect e-commerce, improved health and wellness services and the inclusion of fresh food at select Shoppers Drug Mart locations.
“Our investment will create improved retail experiences for customers and local jobs for communities,” says Galen G. Weston, chairman and CEO of Loblaw Companies Limited.
“Our focus is clear: Across our network, we will provide greater access to fresh, affordable, innovative food and more robust health and wellness services for Canadians.”
With more than 2,400 locations, Loblaw is one of Canada’s largest network of corporate and independently owned retail stores, and one of Canada’s largest employers, with a combined workforce of approximately 200,000.