Canadian retailer Loblaw to invest $1.55 billion in 2025, create 8,000 jobs (updated)

Loblaw Companies

19/02/2025 11:38

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       Feb 19 (Reuters) - Canadian retailer Loblaw  L.TO  said
on Wednesday it plans to invest C$2.2 billion ($1.55 billion)
this year to renovate existing stores, open new outlets and
create about 8,000 jobs.
    The company, which operates pharmacy chains including
Shoppers Drug Mart and discount banners including No Frills and
Maxi, said last year it expects to invest C$2 billion to create
about 7,500 jobs.
    The announcement comes a day ahead of Loblaw's
fourth-quarter results.
    The company also expects to invest more than C$10 billion 
over the next five years, it said.    
    The investment adds to the more than C$8 billion it has
invested since 2020 into improving and expanding its network of
stores and modernizing its supply chain.
    The retailer missed third-quarter revenue estimates in
November, hurt by a demand slowdown for its household items and
electronics.

($1 = 1.4203 Canadian dollars)

 (Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Neil.JKanatt@thomsonreuters.com;))