CA - Loblaw to invest C$2B in Canadian economy in 2023
2023-04-14 06:13:53 ET
- Loblaw Companies ( OTCPK:LBLCF ) plans to invest over C$2B into the Canadian economy this year.
- The capital investments will generate "thousands of jobs" and help improve its store network, which includes opening 38 new and/or relocated stores and converting or renovating nearly 600 others.
- The food and pharmacy retailer is increasing its investment level in 2023 to focus on its core retail experience, modernize supply chain and expand its presence in communities.
- Highlights of Loblaw's 2023 capital investments 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 center in the Greater Toronto Area.
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Loblaw to invest C$2B in Canadian economy in 2023