Walmart Canada Invests $6.5 Billion in Expansion
Walmart Canada has announced a significant investment of $6.5 billion over the next few years. This investment represents Walmart's largest investment since it opened its first Canadian store nearly 30 years ago.
The Canadian branch of the US retail giant plans to expand its footprint with the construction of dozens of new stores, beginning with five supercenters in Ontario and Alberta that are scheduled to open by 2027.
In addition to the new stores, Walmart Canada intends to invest in modernizing its supply chain infrastructure. By investing in its distribution centers and logistics capabilities, Walmart can improve the efficiency and speed of its delivery services.
This move follows Walmart's recent announcement of plans to open 150 new stores in the United States. The company's expansion plans reflect the growing demand for convenient and accessible shopping options, particularly in light of the rise of e-commerce and curbside delivery services.
Furthermore, Walmart Canada has agreed to sell its fleet business to Canada Cartage, a provider of fleet management services. The terms of the deal were not disclosed.
Last year, Walmart Canada raised wages for its hourly retail and frontline associates in an effort to attract and retain employees.