MISSISSAUGA, Ontario — Walmart Canada here said Tuesday it plans to spend more than $750 million to build new stores and remodel or relocated existing locations across Canada, with more than half of the 73 targeted locations slated to become supercenters, according to reports.
Included in that investment are 39 Zellers stores the company acquired last year through rival Target Corp., Minneapolis.
"This is an exciting year for Walmart Canada," Shelley Broader, president and chief executive officer of Walmart Canada, was quoted as saying in a report by CanadaBusiness.ca. "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."
The Canadian investment by Wal-Mart follows a significant investment by Target, which had acquired 189 Zellers locations, including the 39 it transferred to Wal-Mart. Target said it plans to begin converting the remaining stores in 2013, with 125 to 135 total Target locations planned for Canada.
