Thursday, April 13, 2017
Loblaw Companies Limited says it will invest approximately $1.3 billion into the Canadian economy this year, creating an estimated 10,000 retail, trade and construction jobs. The investment will expand and improve Loblaw's network, including properties owned and operated by Choice Properties REIT.
Loblaw plans to open 30 new stores and renovate more than 500 existing stores in 2017, including the continued rollout of Click & Collect e-commerce, improved health and wellness services, and the inclusion of fresh food at select Shoppers Drug Mart locations.
"Our investment will create improved retail experiences for customers and local jobs for communities," said Galen G. Weston, chairman and CEO, Loblaw Companies Limited. "Our focus is clear: across our network, we will provide greater access to fresh, affordable, innovative food and more robust health and wellness services for Canadians."
Loblaw made a similar announcement early last year, saying it would build 50 new stores and renovate 150 others for a total investment of $1.3 billion during 2016, The Canadian Press reports.
With more than 2,400 locations, Loblaw is Canada's largest network of corporate and independently owned retail stores, and one of Canada's largest employers, with a combined workforce of approximately 200,000.