Loblaw (Toronto) has announced that it will be investing $1 billion into growing its business, including plans to build about 50 new stores this year and renovate 150 existing ones throughout 2016. The company has not announced the locations of the new stores or which existing ones will be renovated.
The expansion is just one part of a $1 billion investment, though. The company also plans to put the money toward its e-commerce, IT infrastructure and supply chain projects. It is expected that the company will also use the investment to expand its click-and-collect program that allows customers to shop online and pick orders up at their local stores. Currently, the program is only offered at 39 locations.
Last year, the company built 50 stores and renovated 100 of its existing stores, reports the Toronto Sun.