Walmart Canada to invest nearly $1B to modernize stores

Walmart Canada plans to invest nearly $1 billion this fiscal year as part of its multi-year plan to modernize its stores and enhance customers service.

The plan includes unveiling what the big-box retailer is calling its “store of the future” in Mississauga, Ont. and investing more than $300 million in store remodels and renovations.

This latest announcement marks the midpoint in Walmart’s larger five-year plan and investment of $3.5 billion in store infrastructure that includes store renovations and enhancements to its fulfilment network, among other projects.

At the store level, Walmart will upgrade 55 locations across the country this year, including 20 extensive refurbishments. For its e-commerce business, the retailer will make investments to facilities that will help get products to Canadians faster.

“Walmart Canada has an ambition to be the most trusted retailer for Canadians. This is what we’ve worked towards for the last 30 years and it’s why we continue to invest, including nearly $1 billion this year, to build an even more efficient, consistent and reliable omnichannel experience for Canadians,” said Gonzalo Gebara, president and CEO, Walmart Canada, in a press release.