Loblaw to spend $2 billion on store upgrades, openings
Loblaw Companies Limited is making a big investment in its brick-and-mortar network.
Loblaw, Canada’s leading food and pharmacy retailer whose banners include Shoppers Drug Markt, plans to invest more than $2 billion (Canadian) into the Canadian economy in 2023. The capital investments will help the company grow and improve its store network, including opening 38 new and/or relocated stores and converting or renovating nearly 600 others.
During the past five years, Loblaw's capital investments have been driven by digital innovation and technology. This year, it will increase its investment level focusing on its core retail experience, expanding its presence in communities, modernizing its supply chain, and making food and healthcare more accessible.
The company’s investments in 2023 plans include the opening of new discount-format supermarkets, such as No Frills, in underserved communities, an increase in pharmacist-led health clinics, hundreds of carbon reduction initiatives across its business, and continued development of a modern distribution center in the Greater Toronto Area.
Loblaw’s network of corporate and independent operations employs approximately 220,000 Canadians – the nation’s largest private workforce. The increased investments are expected to create more than 6,000 new jobs, in retail, supply chain, technology and construction.
“For decades, Loblaw has made significant investments in the Canadian economy – creating jobs and opportunities in our company and others,” said Galen G. Weston, president and chairman, Loblaw Companies Limited. “By growing and innovating, we are advancing the priorities that matter to customers: outstanding shopping experiences, affordable options, and support for their health and wellness. This investment lives up to our purpose of helping Canadians live life well.”
In other news, Lowe’s said it has achieved a significant milestone in its net-zero carbon emissions strategy, with the rollout of its first heavy-duty fully electric transport truck. The vehicle is a battery-electric Freightliner eCascadia manufactured by Daimler Truck North America (DTNA) – the first series production eCascadia handed over to a customer in Canada, and one of five Loblaw expects to put into service in the months ahead. In 2017, Loblaw pledged that by 2030 it would decarbonize its fleet of more than 160 company-owned day-cab trucks.
The deployment of electric trucks is one of over 250 projects Loblaw has completed in the last year alone to help it achieve net-zero carbon emissions – an important part of its ESG commitments and a significant step in fighting climate change.
Loblaw’s network of 2,500 stores operate under a variety of banners, including Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express, President’s Choice, No Name and PC Financial.