This year, Loblaw will build and open 80 new
stores, and create thousands of jobs in communities across
Canada
BRAMPTON, ON, Feb. 19,
2025 /CNW/ - Loblaw Companies Limited (TSX: L)
"Loblaw" or the "Company"), Canada's food and pharmacy leader, announced
today it will invest $2.2 billion
into the Canadian economy in 2025. This investment will help the
Company improve access to more affordable food and healthcare
services for Canadians, while creating an anticipated 8,000 jobs in
communities across the country.
The investment reinforces Loblaw's position as a major
contributor to the growth of the Canadian economy. The Company
anticipates similar levels of investment over the next five years –
to invest more than $10 billion by
2030 – adding to the more than $8
billion the Company has invested since 2020 to improve and
expand its network of stores and modernize its supply chain.
The Company's 2025 planned investments include:
- 80 new stores under the No Frills, Maxi, Shoppers Drug Mart,
Pharmaprix and T&T banners, including approximately 50 hard
discount stores;
- the renovation of more than 300 grocery and pharmacy locations,
including adding approximately 100 new Shoppers Drug Mart pharmacy
care clinics; and
- the continued development of the Company's modernized supply
chain, including the initial opening of the 1.2 million square foot
facility in East Gwillimbury, Ontario.
"At a time when Canadians need value the most, we're continuing
to invest meaningfully in the Canadian economy and in delivering
value to our customers," said Per
Bank, President and CEO, Loblaw Companies Limited. "From
opening one of the largest fully automated distribution centres in
North America, to introducing
dozens of small format hard discount stores to communities that
need them most, this investment will have a positive impact across
the country."
"As a proudly Canadian owned and operated business, we'll also
work to showcase Canadian-made value and quality across our entire
network," added Bank. "Whether it's increasing orders for products
made in Canada or further
broadening our Small Supplier program, we're committed to
home-grown success."
Forward Looking Statements
This News Release contains forward-looking statements about the
Company's near and medium-term capital expenditure expectations,
and their impact. Forward-looking statements reflect the Company's
estimates, beliefs and assumptions, which are based on management's
perception of historical trends, current conditions and expected
future developments, as well as other factors it believes are
appropriate in the circumstances. The Company's estimates, beliefs
and assumptions are inherently subject to significant business,
economic, competitive and other uncertainties and contingencies
regarding future events and, as such, are subject to change. The
Company can give no assurance that such estimates, beliefs and
assumptions will prove to be correct. Numerous risks and
uncertainties could cause the Company's actual results, and the
size, timing and impact of the capital expenditures described in
this News Release, to differ materially from those expressed,
implied or projected in the forward-looking statements, including
those described in the Company's continuous disclosure record
available on SEDAR+ at www.sedarplus.com. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
reflect the Company's expectations only as of the date of this News
Release. Except as required by law, the Company does not undertake
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
About Loblaw Companies Limited
Loblaw Companies Limited is Canada's food and pharmacy leader, as well as
its largest retailer and private sector employer with more than
220,000 colleagues across the country. With over 1 billion
transactions each year in its unmatched network of 2,500 stores and
national e-commerce options, Loblaw brings food, pharmacy, beauty,
apparel and financial services to customers through many of
Canada's favourite and
most-trusted brands: President's Choice, No Name, Loblaws, Shoppers
Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh,
PC Express and PC Financial. The Company's loyalty program, PC
Optimum, has more than 16 million active members and is one of
Canada's largest and best-loved
reward programs.
Loblaw's purpose is to help Canadians live life well. It makes
good food affordable, health, beauty and wellness accessible,
saving for the future possible, and essential style achievable.
SOURCE Loblaw Companies Limited - Public Relations
