Canada: Loblaw plans to invest C$1.2 billion in 2015
Canada's food and pharmacy retail leader Loblaw has announced that it is planning to invest C$1.2 billion ($950 million) in an expansion programme over the coming year.
The company said the investment would consist both of 50 new store openings and renovations and improvements to more than 100 existing stores across Canada. Funds have also been earmarked for its e-commerce offering, supply chain and infrastructure, the company said in a statement.
"While we continue to invest in the IT and infrastructure engines of our business, we're increasingly making investments that Canadians will see with their own eyes – improving our offer, adding stores, and creating jobs locally", said Galen G. Weston, Executive Chairman and President, Loblaw Companies Limited. "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".