Loblaw to invest $2B this year to open 38 new stores, renovate 600 locations

Loblaw is investing more than $2 billion this year to open 38 new stores and renovate nearly 600 others.

The grocer said its focus for 2023 is on its core retail experience, expanding its presence in communities. modernizing its supply chain and “making food and healthcare more accessible.”

Loblaw's network of corporate and independent operations currently employs some 220,000 Canadians. The new 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, in a statement. "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."

Highlights of Loblaw's capital investments in 2023 include new discount-format supermarkets in various communities, an increase in pharmacist-led health clinics, hundreds of carbon reduction initiatives across its business and continued development of a modern distribution centre in the Greater Toronto Area.