Walmart Canada said Tuesday that it plans to invest “nearly $500 million” in expansion in Canada in the coming year, which will include $376 million for new and expanded stores, $91 million for its distribution network and $31 million for e-commerce.
Walmart said its store count in Canada will increase to 395 by the end of January 2015, including 282 supercentres and 113 discount stores, up from its current count of 389 stores, including 274 supercentres.
The plans for fiscal 2015, which ends next Jan. 31, include adding 1 million square feet of commercial space. The projects will include the construction of new stores as well as the expansion, remodelling and relocation of existing stores.
“Customers in every region of Canada are looking to save money on their entire list of shopping needs,” said Shelley Broader, president and CEO, Walmart Canada, in a statement. “Delivering on our commitment to help lower the cost of living is our top priority, and our growing network of supercentres and our expanding walmart.ca offering enable us to do just that.”
