Walmart Canada has announced a major investment of $ 3.5 billion over the next five years to generate growth and make the online and in-store shopping experience convenient, faster, and easier for its customers. The investment will create employment and forge new partnerships with Canadian technology companies.
“As Walmart Canada’s business grows – especially with grocery and e-commerce picking up significant momentum – Walmart will not compromise on offering the everyday low prices customers trust – both online and in-store,” the company said.
The $3.5 billion new investments are in addition to over $1 billion invested into a remodelling and opening stores over the past five years. The investment will be used for renovating over 150 stores over the next three years – over one-third of the store network. It will also help in accelerating digitization to create “smarter stores”.
An amount of $1.1 billion would be invested towards building two new distribution centres in Vaughan, ON and Surrey, BC, and in renovating an existing distribution centre in Cornwall, ON, creating hundreds of construction jobs.
In addition, the company will ramp up capacity in its distribution centre system through new leading-edge technologies.
