{"id":10544,"date":"2023-04-14T12:30:10","date_gmt":"2023-04-14T12:30:10","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/loblaw-to-spend-1-5\/"},"modified":"2023-04-14T12:31:11","modified_gmt":"2023-04-14T12:31:11","slug":"loblaw-to-spend-1-5","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/loblaw-to-spend-1-5\/","title":{"rendered":"Loblaw to spend $1.5 billion to expand business in Canada,\u00a0create 6,000 jobs"},"content":{"rendered":"

(Reuters) – Loblaw Companies Ltd on Friday said it would spend C$2 billion ($1.50 billion) to expand its business in 2023 and create more than 6,000 new jobs in retail, supply chain, technology and construction in Canada. <\/p>\n

The Canadian retailer’s investment comes at a time when it is seeing strength in its pharmacy business, as well as a steady demand for groceries amid rising fears of a recession. <\/p>\n

Loblaw also expects to use the investment to grow and improve its stores; it said it will open 38 new or relocated stores and renovate or convert nearly 600 others. <\/p>\n

Currently, the retailer’s network of corporate and independent operations employs about 220,000 Canadians. <\/p>\n

In February, the company had forecast annual earnings above analysts’ expectations after it posted upbeat fourth-quarter results, helped by steady demand for groceries, cough and cold medicines, as well as high-margin beauty and cosmetics products. <\/p>\n

($1 = 1.3319 Canadian dollars)<\/p>\n

\n

(Reporting by Granth Vanaik in Bengaluru; Editing by Pooja Desai)<\/p>\n

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(Reuters) – Loblaw Companies Ltd on Friday said it would spend C$2 billion ($1.50 billion) to expand its business in 2023 and create more than 6,000 new jobs in retail, supply chain, technology and construction in Canada. The Canadian retailer’s investment comes at a time when it is seeing strength in its pharmacy business, as […]<\/p>\n","protected":false},"author":8,"featured_media":10545,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-10544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3D0FV-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=10544"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10544\/revisions"}],"predecessor-version":[{"id":10546,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/10544\/revisions\/10546"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/10545"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=10544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=10544"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=10544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}