Loblaw Cos. Ltd. expects to invest more than $2 billion dollars in 2024, with plans to build more than 40 new stores, expand or relocate another 10 and renovate more than 700 others.

This record investment reflects Loblaw’s commitment to enhancing its store network, creating job opportunities, and improving accessibility to affordable food and healthcare services for communities across the country.

The company’s capital investments this year are expected to create more than 7,500 jobs in Canada, reinforcing Loblaw’s position as a major contributor to Canada and its economy.

"This year, we are investing where Canadians need it most. We will introduce more than 40 new discount stores and 140 new pharmacy care clinics in communities across the country – making healthcare and affordable food more accessible to more people,” said Per Bank, president and CEO of Loblaw Cos. “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.”

This year’s investment is in addition to more than $10 billion the company has invested since 2016.

Source: Loblaw Cos. Ltd.