Walmart Canada has revealed plans to invest $6.5 billion Canadian dollars, approximately $4.5 billion US dollars, over the next five years to expand and modernize its operations.
This investment marks the retailer’s largest of its kind since its establishment in Canada three decades ago.
The initiative will see the opening of several new locations, including five Supercenters in Ontario and Alberta by 2027, with two of these opening later this year.
In addition, Walmart Canada is set to launch a new distribution center in Vaughan, Ontario, this spring. This expansion will help strengthen the company’s supply chain across the country.
Guilherme Loureiro, regional CEO of Walmart Canada, Chile, Mexico, and Central America, said that this investment marks a significant milestone for the company. “It is the largest investment Walmart Canada has made since its beginnings in Canada,” he said.
In tandem with these expansions, Walmart Canada has also restructured its fleet operations through the acquisition of its fleet business by Canada Cartage, although financial details of the deal were not disclosed.
The announcement follows a series of key executive changes at Walmart Canada. Steve Schrobilgen has been appointed as the company’s new chief operating officer, overseeing both supply chain and real estate, while Venessa Yates has stepped into the CEO role, having previously led the Walmart+ program.
This new investment comes on the back of Walmart Canada’s previous $3.5 billion Canadian dollars commitment, which funded over 180 store upgrades, new locations, and the construction of fulfillment and distribution centers, including the Vaughan facility.
Walmart Canada also recently invested $200 million Canadian dollars to increase pay for its frontline employees.
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