Walmart Canada to Invest $450 Million in New Stores, DCs in New Fiscal Year
January 22, 2013,
MISSISSAUGA, Ontario-Walmart Canada will plow $450 million into new projects involving supercenters and distribution centers during its upcoming fiscal year, which begins on Feb. 1 and ends on Jan. 31, 2014.
The retailer's plan calls for the building of new stores; the expansion, remodeling or relocation of existing stores; and the expansion of its distribution network. A Walmart Canada statement said it plans to finish at least 37 supercenter projects and an unspecified number of distribution center projects during the next fiscal year.
Over the past few years, Walmart Canada has conducted from 35 to 40 supercenter projects. The year ending saw the addition 73 supercenter projects, which included 39 former Zellers locations for which Walmart Canada acquired the leasehold rights from Target Canada in June 2011.