Loblaw Companies Limited, Canada's food and pharmacy retail leader, plans to invest more than $2 billion dollars into the Canadian economy in 2023. The Company's capital investments this year are expected to create thousands of jobs and see it grow and improve its store network, opening 38 new and/or relocated stores and converting or renovating nearly 600 others.
Over the past five years, Loblaw's capital investments have evolved with the grocery landscape, driven by digital innovation and technology. This year, it will increase its investment level focusing on its core retail experience, expanding its presence in communities, modernizing its supply chain, and making food and healthcare more accessible.
"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. "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."
Loblaw's network of corporate and independent operations already employs approximately 220,000 Canadians – the nation's largest private workforce. The Company's increased investments are expected to create more than 6,000 new jobs, in retail, supply chain, technology, and construction.
Highlights of Loblaw's capital investments in 2023 include new discount-format supermarkets in underserved 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.
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