Walmart Canada plans record expansion year
Retailer to invest more than $750 million in Canadian economy, create more than 14,000 new store, trade and construction jobs
MISSISSAUGA, ON, Feb. 7, 2012 - Today Walmart Canada confirmed that it plans to complete at least 73 projects in the company's current fiscal year, which runs from February 1, 2012 to January 31, 2013. This represents a record year for Walmart Canada, which will add 4.6 million square feet of retail space to its operations in the next 12 months.
The 73 projects will include building new stores and expanding, remodelling or relocating existing stores. Included in these projects are most of the 39 former Zellers stores for which Walmart Canada purchased leasehold rights in June 2011 and which will reopen as Walmarts in this fiscal year.
These 73 projects will represent an investment of more than $750 million in Canadian communities and are expected to generate more than 14,000 store, trade and construction jobs.
Walmart also confirmed today that more than half of these projects will be part of the company's supercentre program while the remaining projects will be discount stores. Walmart's supercentres provide a full range of groceries and general merchandise under one roof. While Walmart has confirmed the locations of the 39 former Zellers stores, it will confirm the locations of the remaining projects over the coming weeks and months.
Commenting on today's announcement, Shelley Broader, President and CEO of Walmart Canada, said: "This is an exciting year for Walmart Canada. We are proud of our 18-year record of growth, and of the investment we make in the Canadian economy. As the country's fastest growing retailer, every year we create thousands of new jobs, spend billions of dollars with Canadian suppliers, and invest millions in Canadian communities."
As of January 31, Walmart Canada had 333 stores, including 164 Supercentres. Today's announcement is expected to bring the company's store count to over 375 stores by the end of January, 2013. Walmart Canada also sells a wide range of merchandise on its e-commerce site www.walmart.ca.
Established in 1994 and headquartered in Mississauga Ontario, Walmart Canada operates 333 stores and serves more than 1 million customers each day. Walmart is one of Canada's largest employers with more than 85,000 associates, and is recognized by Waterstone Human Capital as having one of Canada's top 10 corporate cultures. Since 1994, Walmart has raised and donated more than $150 million to Canadian charities and not-for-profit organizations.
Susan Schutta, Director of Corporate Affairs, Walmart Canada at 905-821-2111, x78012
Carol Schumacher, Vice President of Investor Relations, Wal-Mart Stores, Inc., at 479-277-1498