A Canadian grocery-store giant is taking the wraps off big expansion and renovation plans that could create thousands of jobs.
Officials with Loblaw announced Monday that the chain will be working to build 50 new stores and renovate 150 existing ones this year.
Those include grocery and Shoppers Drug Mart locations across Canada, but the company isn’t saying exactly where just yet.
According to an email from Loblaw’s director of external communication, the expansion will add about 5,000 new store employees and create roughly 15,000 construction jobs.
The changes will grow Loblaw’s employee base by 2.6 per cent.
“We continue to invest in our business in ways that matter for the Canadian economy and the millions of Canadians who shop with us each week,” Galen G. Weston, the company’s president and executive chairman, said in a statement.
The most recent annual information form from Loblaw shows the company operates more than 2,300 retail stores, and employs about 192,000 full and part-time workers.
Loblaw will invest $1 billion in the expansion, while Choice Properties REIT, a real estate investment trust, will contribute $300 million.
Loblaw will release its first-quarter results on May 4th.