Loblaw to build 40 new stores, create 7,500 jobs, as part of a $2B+ investment plan

Loblaw Companies says it will build 40 new stores as part of an investment plan of more than $2 billion.

The company says it will also expand or relocate another 10 locations and renovate more than 700 stores across the country. Loblaw says the investment will create 7,500 jobs.

In its third quarter earnings report in November, Loblaw profits rose by nearly 12 per cent thanks to stronger-than-expected revenue, primarily driven by shoppers looking for value and discounts, according to a Canadian Press story.

“These investments in Canada are a catalyst for job growth and the creation of countless opportunities, in our stores, in our company and with the many partners who work with us,” said Per Bank, Loblaw Companies president and CEO.