Industryweek 6103 Wal Mart 1

Walmart to Invest $500 Million to Fuel Canada Growth

Feb. 5, 2014
The expansion will generate 7,500 jobs, mostly in construction building 35 supercenter stores.

MONTREAL -- Walmart said Tuesday it would invest Can$500 million (US $450 million) this year into growth in Canada, with the aim of completing 35 supercenter projects by early 2015.

The aggressive expansion program will generate some 7,500 jobs, mainly in construction, the company said.

Walmart will put Can$376 million ($340 million) into transforming and enlarging existing stores and also add 35 supercenters, which carry some 100,000 products.

The other funds will go to distribution network improvements and online sales development.

The investment program will bring Walmart's stores and outlets in Canada to 395, 282 of which will be supercenters.

The aggressive expansion, together with a previous large investment plan for Canada recently announced by Walmart rival target, boosts the challenge to home-grown Canadian chains like Loblaw, Sobeys and Metro.

Copyright Agence France-Presse, 2014

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