Walmart Canada unveils aggressive expansion plans for new fiscal year
Home Textiles Today Staff -- Home Textiles Today, 2/7/2012 1:29:09 PM
Mississauga, Ontario -- Walmart Canada today shared its plans to complete at least 73 projects in the company's current fiscal year, which runs from Feb.1, 2012, through Jan. 31, 2013.
This represents "a record year" for Walmart Canada, which said it will add 4.6 million square feet of retail space to its operations over the 12-month period.
The 73 projects will include building new stores and expanding, remodeling 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.
Collectively, the 73 projects will amount to more than a $750 million investment.
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 offer 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.
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 Jan. 31, Walmart Canada had 333 stores, including 164 Supercentres. The expansion plans for the new fiscal year are expected to bring the company's store count to more than 375 by the end of January 2013.
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