BRAMPTON, ON, March 9, 2015 /CNW/ - (TSX:L) – Loblaw Companies Limited, Canada's food and pharmacy retail leader, will invest more than $1.2 billion into its Canadian business in 2015. The investment includes construction projects for dozens of new and existing stores, e-commerce expansion, and continued investment in supply chain and IT infrastructure.
As Canada's largest network of corporate and independently owned retail stores and formats, each employing between 20 and 300 employees, Loblaw's investment is expected to create more than 20,000 jobs through store staffing and construction.
"While we continue to invest in the IT and infrastructure engines of our business, we're increasingly making investments that Canadians will see with their own eyes – improving our offer, adding stores, and creating jobs locally," said Galen G. Weston, Executive Chairman and President, Loblaw Companies Limited. "True to our strategy, our investment will create better access to fresh food, wellness solutions closer to home, e-commerce convenience, and a family of stores that elevate grocery, pharmacy, apparel and banking experiences."
About Loblaw Companies Limited (TSX: L)
Loblaw Companies Limited is Canada's food and pharmacy leader, the nation's largest retailer, and the majority unitholder of Choice Properties Real Estate Investment Trust. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, banking, and wireless mobile products and services. With more than 2,300 corporate, franchised and Associate-owned locations, Loblaw, its franchisees, and Associate-owners employ approximately 192,000 full- and part-time employees, making it one of Canada's largest private sector employers.
Loblaw's purpose – Live Life Well – puts first the needs and well-being of Canadians who make one billion transactions annually in the companies' stores. Loblaw is positioned to meet and exceed those needs in many ways: convenient locations; more than 1,050 grocery stores that span the value spectrum from discount to specialty; full-service pharmacies at more than 1,250 Shoppers Drug Mart and Pharmaprix locations and more than 500 Loblaw locations; no-fee banking with PC Financial; affordable Joe Fresh fashion and family apparel; and three of Canada's top consumer brands in Life Brand®, no name® and President's Choice®. Through the PC Plus™ and Shoppers Optimum® loyalty programs, more than one in every three Canadians are rewarded for shopping with the companies
This Press Release contains forward-looking statements about Loblaw's objectives, plans, goals and aspirations. Forward-looking statements in this Press Release include statements relating to Loblaw's planned investment to evolve its service to Canadian customers, including new store construction and improvements to existing stores, the transfer of real estate assets into Choice Properties REIT™ and the global expansion of Joe Fresh®. These forward-looking statements reflect Loblaw's current estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. Loblaw's estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Numerous risks and uncertainties could cause Loblaw's actual plans, actions and results to differ materially from those expressed, implied or projected in the forward-looking statements, including, but not limited to, unanticipated developments that may delay or negatively impact the proposed new store construction and improvements to existing stores, changes in economic and market conditions, heightened competition, whether from current competitors or new entrants to the marketplace and other risks and uncertainties discussed in Loblaw's materials filed with the Canadian securities regulatory authorities, from time to time, including the Enterprise Risks and Risk Management section of Loblaw's Annual Information Form. Loblaw can give no assurance that such estimates, beliefs and assumptions will prove to be correct. There can be no assurance that that proposed international expansion will be completed as anticipated or at all. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Loblaw's expectations only as of the date of this Media Statement. Loblaw disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Loblaw Companies Limited
For further information: Media inquiries, contact: Loblaw Public Relations, [email protected]; Investor inquiries, contact: Sophia Bisoukis, Investor Relations, 905-861-2436 x613267, [email protected]