Loblaw to build more than 40 new stores as part of expansion plan

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BRAMPTON, Ont. — Canada’s largest grocery retailer is spending more than $2 billion to expand its empire with plans to build more than 40 new stores and renovate hundreds of others.

Loblaw Cos. Ltd. announced Tuesday the record investment plan, which includes the expansion and relocation of 10 stores and renovations at 700 locations across its banners.

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“We will introduce more than 40 new discount stores and 140 new pharmacy care clinics in communities across the country — making health care and affordable food more accessible to more people,” Loblaw chief executive Per Bank said in a news release.

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The company, which owns the Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore and T&T banners, has a network of 2,500 stores across the country.

Asked where the new stores will be located, Loblaw spokesperson Catherine Thomas told The Canadian Press in an email, “We’ll be opening in communities across the country but aren’t breaking it down more specifically at the moment.”

She also did not provide a list of which stores will be expanded or renovated, but said overall, the chain will have more discount stores opening and being converted and a focus on adding pharmacy care clinics.

The investments this year will create more than 7,500 jobs, including in-store and constructions roles.

“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,” Bank said.

Loblaw has faced increasing pressure from Canadians and lawmakers to help the country cope with the burden of inflation, which Statistics Canada said Tuesday sat at 2.9 per cent in January compared with 3.4 per cent in December.

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Food inflation has been particularly sticky. It fell to 3.4 per cent annually in January compared with 4.7 per cent in December.

Struck by the persistence of food inflation and sizable profits…