Walmart announces $6.5 billion investment in stores, supply chain
Walmart announces $6.5 billion investment in stores, supply chain
Walmart announced a landmark $6.5 billion investment over the next five years as the company plans to further accelerate growth in Canada. The company plans to build dozens of new stores across the country, beginning with five new Supercentres in Ontario and Alberta by 2027.
“Walmart Canada is on an ambitious growth journey to serve even more Canadians — better and differently than ever before. This $6.5 billion investment is the largest we’ve made in Canada toward expanding our footprint since we first arrived here 30 years ago,” said Gui Loureiro, regional CEO of Walmart Canada, Chile, Mexico and Central America. “And as Gonzalo Gebara finishes his last few weeks as president and CEO of Walmart Canada, before returning home to Argentina, I want to thank him for his strong leadership and vision in driving these growth plans.”
The retailer is announced an agreement with Canada Cartage – the country’s largest provider of fleet services to buy Walmart Canada’s fleet business.
“Canada Cartage has deep expertise in providing dedicated fleet services and has been serving Canadian businesses for more than 110 years,” said Matt Kelly, vice president of supply chain, Walmart Canada. “Through Canada Cartage we can serve customers even better and more flexibly and provide fleet employees with exciting growth opportunities at one of Canada’s largest and most trusted supply chain service providers.”
These announcements come as Walmart Canada closes off its historic $3.5 billion investment in Canada, announced in 2020, and celebrates the impact it’s had over the past four years which included modernizing more than 180 stores and four brand new stores.
“Across the country we’re making strategic investments in our online and in-store offerings to be more relevant to more customers than ever before. From newcomers and urbanites to higher-income Canadians, more customers are choosing Walmart for their shopping needs,” said Joe Schrauder, chief operations officer, Walmart Canada