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

Executive Summary

• Loblaw Companies Limited announced a $2.4 billion capital spend for 2026 to open 70 new stores, renovate 191 existing locations and expand distribution capacity.
• The program will create approximately 9,700 retail and construction jobs nationwide, with detailed regional job allocations.
• This investment is the second phase of Loblaw’s five‑year $10 billion growth plan aimed at strengthening its store network, supply chain and market presence across Canada.

Key Details

• Total 2026 Capex: $2.4 billion.
• New Store Openings (2026): 70 total – 34 Shoppers Drug Mart/Pharmaprix pharmacies & care clinics; 31 No Frills and Maxi discount stores; remaining locations unspecified.
• Store Renovations (2026): 191 existing Loblaw stores slated for upgrades.
• Distribution Centre Expansion: Ongoing construction of a ~1.2 million‑sq‑ft automated distribution centre in Caledon, Ontario, with additional centres planned in Southern Ontario.
• Job Creation: Approximately 9,700 new jobs (retail + construction). Regional breakdown:
• Eastern Canada – 4 stores, >600 jobs
• Quebec – 15 stores, >1,985 jobs
• Ontario – 27 stores, 3,775 jobs (including distribution‑centre roles)
• Western Canada – 24 stores, >3,400 jobs
• Strategic Context: Second investment tranche of Loblaw’s $10 billion, five‑year plan targeting completion by 2030.
• CEO Quote: “Our success depends heavily on the strength of the communities we serve… this is a significant investment in our network and capabilities as one of Canada’s largest retailers.” – Per Bank, President & CEO.

Notable Quotes

“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.” – Per Bank, President and CEO.