US retail giant Wal-Mart will invest “close to” C$500m (US$452.4m) this year to drive growth in Canada, including moves to enhance its fresh food offering.
The company said it will enlarge its supercentre and distribution network as well as expanding its e-commerce offering, walmart.ca.
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During fiscal 2013, which ran to the end of January, the company invested around a similar amount – US$450m – on expanding in Canada.
This year, it will spend C$91m on distribution projects to “grow Wal-Mart Canada’s fresh food capability”, it said. A further C$31m will be spent on e-commerce.
The bulk of the investment – C$376m – will be spent on opening and upgrading Wal-Mart’s store network. Wal-Mart said it will open 35 supercentres, increasing selling space in the country by 1m square feet.
By the end of January 2015 – the group’s next financial year – Wal-Mart said it expects to operate 395 stores, including 282 supercentres and 113 discount outlets in Canada.
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By GlobalDataThe move will create 7,500 jobs in the country, Wal-Mart claimed.
