Loblaw expects to create 7.5K jobs, 40 new stores with $2B investment

Canadian food and pharmacy retailer Loblaw Companies said on Tuesday it expects to invest over $2 billion this year to create more than 7,500 jobs.

While the investment is in line with last year’s, the retailer plans to create roughly 1,500 more jobs in 2024.

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Loblaw plans to use the investment to improve its store network by renovating more than 700 stores and building more than 40 others.

The retail chain in November beat third-quarter profit estimates on steady demand for essentials amid surging food prices in the country.