Business
Loblaw to invest $2.4 billion in the Canadian economy in 2026, with plans to build 70 new stores and create well over 9,000 jobs
BRAMPTON, Ontario, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Today, Loblaw Companies Limited (TSX: L, &#x...
About this update from Loblaw Companies Limited
[{"type":"text","content":"Loblaw to invest $2.4 billion in the Canadian economy in 2026, with plans to build 70 new stores and create well over 9,000 jobsThe investment is part of a 5-year plan to invest $10 billion in Canadian communities by 2030\nBRAMPTON, Ontario, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Today, Loblaw Companies Limited (TSX: L, “Loblaw” or the “Company”), Canada’s food and pharmacy leader, announced that it will spend $2.4 billion in 2026 to expand and renovate its store network, enhance its supply chain capabilities, and create jobs for people all across Canada. At a time when Canadians are struggling with affordability and access to healthcare services, in 2026 Loblaw will open 70 new stores. This will include 34 Shoppers Drug Mart / Pharmaprix pharmacies and care clinics, and 31 hard discount No Frills and Maxi stores delivering value to communities. These new locations, along with the renovation of another 191 stores, and the continued construction of its roughly 1.2 million square foot automated distribution centre in Caledon, Ontario, will create an anticipated 9,700 retail and construction jobs from coast to coast. This is the second investment in the company’s 5-year plan to spend $10 billion by 2030 – reinforcing Loblaw’s position as a major contributor to the growth of the Canadian economy, and to creating new avenues for customers to access value. “Our success depends heavily on the strength of the communities we serve,” said Per Bank, President and CEO, Loblaw Companies Limited. “We see this as a significant investment in our network and capabilities as one of Canada’s largest retailers, but it is also an investment in the people we serve and their ability to access great value and quality healthcare. By helping Canadians live life well, our business gets stronger too.” Every part of Canada will see investment as a result of this announcement: Eastern Canada – 4 new stores and more than 600 jobsQuebec – 15 new stores and more than 1,985 jobsOntario – 27 new stores and 3,775 jobs, including roles associated with the company’s two new automated distribution centres in Southern OntarioWestern Canada – 24 new stores and more than 3,400 jobs Media inquiries please contact: [email protected] Forward Looking Statement...