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Industry NewsLoblaw says it's on track to open 40 new stores, convert dozens...

Loblaw says it’s on track to open 40 new stores, convert dozens this year

Loblaw celebrated the opening its 16th new location in May, a small-format No Frills in downtown Toronto and says it’s on track to open 40 new stores this yer and convert dozens more.

The new stores are part of a larger announcement in February of this year, whereby the company committed to a capital investment of more than $2 billion dollars into the economy in 2024. This investment is expected to create more than 7,500 jobs in Canada.

“As a Canadian company, our purpose is to help our colleagues and customers live life well, and when it comes to groceries, the best way we can do that is by making good food affordable,” says Richard Dufresne, chief financial officer, Loblaw. “We know there are a lot of underserviced areas in this country looking for discount grocers who can bring prices down for the community. These new stores, and our increased investment in the hard-discount format, is the next step in our ongoing commitment to delivering the best possible value.”

Over the past few months, Loblaw has built and opened nine new stores, and converted seven others. The conversions have largely focused on expanding the company’s hard-discount stores, Maxi and No Frills, as Canadians continue to look for ways to save on their grocery bills.

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