Loblaw to invest $1.2B, creating more than 20,000 jobs

Loblaw Companies Ltd. announced on Monday it will invest more than $1.2 billion into its business this year, which is expected to create more than 20,000 jobs.

The investment includes construction projects for new and existing stores, e-commerce expansion, and continued investment in supply chain and IT.

“True to our strategy, our investment will create better access to fresh food, wellness solutions closer to home, e-commerce convenience, and a family of stores that elevate grocery, pharmacy, apparel and banking experiences,” Loblaw president Galen G. Weston said in a release.

The Canadian Press reports Loblaw will build 50 new stores across the country this year and renovate or improve more than 100 existing ones.

Some of the in-store improvements will reportedly focus on Joe Fresh, which the company plans to add in 50 more grocery stores.

Loblaw estimates the investment will create about 5,000 jobs at its corporate and independently-owned stores, The Canadian Press reports.

In July 2013, Loblaw announced a $12.4-billion deal to buy Shoppers Drug Mart. Since then, No Name and President’s Choice products have been sold at select pharmacy stores.

With files from The Canadian Press

Top Stories

Top Stories

Most Watched Today