Loblaw (TSX:L) has announced plans to invest more than $2 billion into the Canadian economy in 2023 in a move the retailer said will create more than 6,000 new jobs and grow and improve its store network.
The company said it plans to open 38 new and/or relocate stores while converting or renovating nearly 600 others as its investment focuses on its core retail experience, expanding its presence in communities, modernizing its supply chain and making food and healthcare more accessible.
Loblaw noted that it is already Canada’s largest private employer with 220,000 workers across its network of corporate and independent operations. The new positions resulting from its increased investments will be in retail, supply chain, technology, and construction, and will add to the approximately it added.
"For decades, Loblaw (TSX:L) has made significant investments in the Canadian economy - creating jobs and opportunities in our company and others," the company’s president and chairman Galen Weston said in a statement.
"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."
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