Loblaw has announced plans to invest approximately C$1.3 billion into the Canadian economy, improving its network of stores and services and buoying the country’s wellbeing. The retailer plans to create an estimated 10,000 retail, trade, and construction jobs; open 30 new stores; and renovate more than 500 existing stores.
"Our investment will create improved retail experiences for customers and local jobs for communities," said Galen G. Weston, Chairman and CEO, in a press release. "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."
In addition to its new and renovated brick-and-mortar locations, the company plans to continue expanding its Click & Collect e-commerce platform, improve health and wellness services, and add fresh food offerings to the company’s Shoppers Drug Mart locations.
Loblaw’s latest expansion efforts will add to the retailers more than 2,400 locations and 200,000 employees. The company noted that its 2017 investment will expand and improve Loblaw's network, including properties owned and operated by Choice Properties REIT.
Deli Market News will keep you up-to-date on this and other important retailer’s investments and earnings as they occur.