Loblaw announces $1.3 billion in investments

Expanding with new stores, renovations in Canada

Loblaw Companies Limited announced Tuesday it will invest $1.3 billion into Canadian retail businesses in 2016.

Loblaw Expansion
By the Numbers

$1.3 billion
Loblaw’s planned investment in stores.

Full and part time employees of Loblaw Companies Limited.

Jobs Loblaw plans to add through staffing and construction.

Corporate, franchised and associate-owned locations.

Shoppers Drug Mart and Pharmaprix locations

Different grocery stores under the Loblaw Companies Ltd portfolio.

More than 500
Loblaw locations

20 to 300
Employees at each store.

Renovations of stores announced.

Approximate number of new stores announced.

Source: Loblaw press release

“We continue to invest in our business in ways that matter for the Canadian economy and the millions of Canadians who shop with us each week,” Loblaw president Galen G. Weston said in a statement.

“Our investment will create local jobs and bring nutrition and wellness solutions closer to home,” Weston said.

Loblaw operates six different divisions, which include businesses such as Loblaws, Fortinos, No Frills, Shoppers Drug Mart, Joe Fresh, President’s Choice, No Name and Life Brand.

The investment will create approximately 50 new stores and 150 renovations to current stores, according to Loblaw. About 20,000 new jobs are also to be created through increased store staffing and construction.

Loblaw is to release its first quarter 2016 results on May 4.

About this article

Posted: Apr 12 2016 10:13 pm
Filed under: News