Walmart to invest $750m in expanding Canadian operations

Retail giant Wal-Mart Stores Inc is to invest more than $753.8 million in expanding its Canadian operations as rival Target Corportation prepares for its move into the country next year.

The retailer confirmed plans to complete at least 73 projects in its current fiscal year, which runs to January 31, 2013.

The record investment will see Walmart Canada add 4.6 million square feet of retail space to its operations in the next 12 months, as well as more than 14,000 store, trade and construction jobs.

Among its plans are building new stores and expanding, remodelling or relocating existing stores – including most of the 39 former Zellers stores for which Walmart Canada last year purchased leasehold rights from Target. These stores are due to reopen as Walmarts in this fiscal year.

The retailer also confirmed that more than half of the projects will be part of its supercenter program — which sell both groceries and general merchandise — and the rest will be discount stores.

Mississauga, Ontario-based Walmart Canada currently operates 333 stores, including 164 Supercenters.

Its rival, US discount department store retailer Target, is due to open its first 24 Canadian stores in Ontario in March or early April 2013. It plans to open between 125 and 135 stores in Canada after buying 189 leases from discount chain Zellers last year.

For more fashion and apparel industry news, go to just-style.com

Related Posts

1. Target settles trademark dispute with Canadian retailer
   Discount department store retailer Target Corporation has settled a dispute over the...
2. Target to open up to 135 stores in Canada in 2013
   Ahead of its move into Canada, Target Corp has finalized the number...
3. Supreme Court decides for Walmart in discrimination case
   WASHINGTON—The US Supreme Court decided for Walmart in a sex discrimination case...
4. Walmart appoints chief merchandising officer
   Walmart US has appointed Duncan Mac Naughton as chief merchandising officer for...
5. Canadian retailer Fairweather fights for Target trademark
   US discount retailer Target is facing an unexpected complication in its Canadian...