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

Mr. Per Bank reports 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 Loblaw Companies Ltd. 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 health care 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, Ont., will create an anticipated 9,700 retail and construction jobs from coast to coast. This is the second investment in the company's five-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 chief executive officer of Loblaw Companies. "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." Every part of Canada will see investment as a result of this announcement: Eastern Canada -- four new stores and more than 600 jobs; Quebec -- 15 new stores and more than 1,985 jobs; Ontario -- 27 new stores and 3,775 jobs, including roles associated with the company's two new automated distribution centres in Southern Ontario; Western Canada -- 24 new stores and more than 3,400 jobs. About Loblaw Companies Ltd. Loblaw Companies is Canada's food and pharmacy leader as well as its largest retailer and private-sector employer with more than 220,000 colleagues across the country. And as a source of the food and wellness essentials Canadians count on every day, Loblaw believes that the better Canada does, the better the company does. This mentality comes through in the company's purpose -- helping Canadians live life well -- and guides so much of its decision making as an organization. With an unmatched network of 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada's favourite and most-trusted brands: President's Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial. The company's loyalty program, PC Optimum, has more than 16 million active members and is one of Canada's largest and best-loved reward programs. We seek Safe Harbor.