Canada's Loblaw to invest $1.75 billion in 2026, create 9,700 new jobs

Loblaw Companies

23/02/2026 12:47

Feb 23 (Reuters) - Canadian retailer Loblaw L.TO said on Monday it will invest C$2.4 billion ($1.75 billion) this year to boost its store network and supply chain, and help create about 9,700 jobs related to retail and construction.

The company, which is set to report fourth-quarter results on Wednesday, said it plans to open 70 new stores through 2026. It would also renovate another 191 stores and continue with the construction of its automated distribution centre in Caledon, Ontario.

Loblaw, which operates pharmacy chains including Shoppers Drug Mart and discount banners including No Frills and Maxi, had announced an investment of C$2.2 billion for the previous year.

The company said it is the second investment in its five-year plan to spend $10 billion by 2030.

($1 = 1.3689 Canadian dollars)

 (Reporting by Koyena Das in Bengaluru; Editing by Shailesh Kuber)

 ((koyena.das@thomsonreuters.com))