Loblaw Companies Ltd., Canada’s largest grocery retailer, announced on Monday that it plans to build more than 40 new stores and renovate over 100 existing ones this year. The company said it will invest $1.3 billion in its expansion plan, which will also include improving its e-commerce and digital capabilities.
The new stores will include both grocery and pharmacy banners, such as Loblaws, Zehrs, Shoppers Drug Mart, and No Frills. The company expects to create about 5,000 new jobs across the country as a result of the expansion.
Loblaw said the investment will help it meet the changing needs and preferences of its customers, especially amid the COVID-19 pandemic. The company has seen a surge in online sales and delivery demand, as well as a shift to more local and fresh products.
“We are investing in our business at a time when many customers are changing how they shop and what they buy,” said Sarah Davis, president of Loblaw. “We are accelerating our investments in online grocery and expanding our store network to ensure we meet the needs of Canadians today and in the future.”
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