Loblaw to spend $2.4-billion, open 70 stores in 2026

Executive Summary

• Loblaw Companies Ltd. announced a $2.4 billion investment in the Canadian economy for 2026, marking the second phase of its five-year plan to spend $10 billion by 2030.
• The investment includes the construction of 70 new stores (including pharmacies and hard-discount formats) and the renovation of 191 existing locations, alongside the continued construction of a major automated distribution centre in Caledon, Ontario.
• The initiative is projected to create approximately 9,700 retail and construction jobs across Canada, with specific regional breakdowns provided for Eastern Canada, Quebec, Ontario, and Western Canada.

Key Details

• Total Investment: $2.4 billion allocated for 2026.
• Five-Year Plan Context: This is the second tranche of a $10 billion commitment planned through 2030.
• New Store Construction: 70 new stores planned, comprising:
  • 34 Shoppers Drug Mart/Pharmaprix pharmacies and care clinics.
  • 31 No Frills and Maxi hard-discount stores.
• Renovations: 191 existing stores to be renovated.
• Infrastructure: Continued construction of a roughly 1.2-million-square-foot automated distribution centre in Caledon, Ontario, and two new automated distribution centres in Southern Ontario.
• Job Creation: Anticipated 9,700 jobs total, broken down by region:
  • Eastern Canada: 4 new stores, >600 jobs.
  • Quebec: 15 new stores, >1,985 jobs.
  • Ontario: 27 new stores, 3,775 jobs (including roles for new distribution centres).
  • Western Canada: 24 new stores, >3,400 jobs.
• Strategic Focus: Enhancing supply chain capabilities, improving affordability, and expanding access to health care services.

Notable Quotes

• "Our success depends heavily on the strength of the communities we serve," said Per Bank, president and chief executive officer of Loblaw. "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 health care. By helping Canadians live life well, our business gets stronger too."