This article was last updated on April 16, 2022
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Walmart Canada has made an announcement to carry on expanding the presence of its business through more new stores this year, while a U.S. retail powerhouse Target plans to bring competition in Canada. Walmart will be completing almost 37 new projects of supercentre by the end of next January, i.e. increase the total number of Canadian locations to 388.
Walmart has stated that nine of these locations are completely new stores, whereas the remaining will be converted from existing properties into Walmart supercentres. It claims that the company will overall be spending a sum of $450 million for expansion, ultimately generating around more than 7,000 jobs, half of whom will be retail positions. Tuesday’s announcement of Walmart also mentioned that it is also going to expand the company’s distribution network for supporting the growth of its business in Canada. Grassroots of Walmart business in Canada go as back as 1990s, and now by the end of this month, it will have had opened 73 completely new Canadian locations in the past year alone.
Quite noticeably, Walmart is also vamping up to face new competition this year as Target inaugurates its first Canadian stores in locations that were formerly occupied by Zellers. From March onwards, Target will be setting up its first almost 125 to 135 locations, while it overall spends a sum of almost $10 million per store for upgrading to the latest business styles, i.e. in few cases even triple the existing square footage.
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