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Loblaw announces big capex plans

Loblaw Cos. on Monday said it would invest around $1.2 billion (Canadian) in 2015, including “dozens” of new stores and expansion of e-commerce and IT.

"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," Galen G. Weston, executive chairman and president of Loblaw, said in a statement. "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."

According to local reports, Loblaw plans call for 50 new stores and the renovation of more than 100 existing stores in 2015.

The Brampton, Ontario, company operates more than 2,300 corporate, franchised and associate-owned stores across Canada.

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