BRAMPTON, ON, CANADA - A whopping $2 billion CAD (~$1.5 billion USD) will soon be funneled into the Canadian economy this year as Loblaw Companies Limited reveals its plans. The company’s capital investments will create thousands of jobs as it grows and improves its store network. It will also be opening 38 new and/or relocated stores and converting or renovating nearly 600 others.

“For decades, Loblaw has made significant investments in the Canadian economy—creating jobs and opportunities in our company and others,” said Galen G. Weston, President and Chairman. “By growing and innovating, we are advancing the priorities that matter to customers: outstanding shopping experiences, affordable options, and support for their health and wellness. This investment lives up to our purpose of helping Canadians live life well.”

Over the past five years, Loblaw’s capital investments have evolved with the grocery landscape, driven by digital innovation and technology. This year, noted the release, it will increase its investment level focusing on its core retail experience, expanding its presence in communities, modernizing its supply chain, and making food and healthcare more accessible.

Highlights of Loblaw’s capital investments in 2023 include new discount-format supermarkets in underserved communities, an increase in pharmacist-led health clinics, hundreds of carbon reduction initiatives across its business, and the continued development of a modern distribution center in the Greater Toronto Area.

For more updates in the retail landscape, keep an eye out for ANUK.

Loblaw Companies Limited