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Loblaw plans to invest $1bn to expand Canadian retail business

RBR Staff Writer Published 13 April 2016

Canadian food and pharmacy retailer Loblaw is planning to invest $1bn in its retail business in 2016.

Loblaw

The investment includes construction of around 50 new stores and 150 store renovations, ecommerce expansion, IT infrastructure, and supply chain projects.

Private investment company Choice Properties REIT is also providing funds towards the retail expansion.

It expects to contribute $300m towards the construction of 730,000ft2 of gross leasable area.

The stores will include grocery of several banners as well as house Shoppers Drug Mart locations.

Loblaw has not yet disclosed specific plans of new locations where it intends to construct its stores or how it would improve the existing ones.

This investment is expected to create around 20,000 jobs with store employment and construction.

Loblaw Companies Limited executive chairman and president Galen G. Weston said: "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. Our investment will create local jobs and bring nutrition and wellness solutions closer to home."

Loblaw operates more than 2,300 retail stores, which include grocery store chains such as Loblaws, No Frills and Real Canadian Super Store among others, as well as the Shoppers Drug Mart outlets and Joe Fresh apparel stores.

In 2015, the company made a similar announcement committing to spend around the same amount of money to construct and expand roughly the same number of stores.


Image: Loblaw plans to invest in store expansion plan. Photo: Courtesy of Raysonho @ Open Grid Scheduler / Grid Engine/Wikipedia.