Loblaw "largely focusing" on discount stores as part of massive expansion plans this year
There are more new and converted Loblaw stores coming to a city near you this year.
In a news release from Loblaw Companies Ltd. on Wednesday, the grocer announced the recent opening of its 16th new location, a unique small-format No frills.
The corporation says it’s on track to open 40 new stores this year and to convert dozens more, just weeks after the month-long boycott against the grocery giant.
According to the release, Loblaw has built and opened nine new stores and converted seven others over the past few months.
The conversions have largely focused on expanding the company’s discount stores like Maxi and No Frills, “as Canadians continue to look for ways to save on their grocery bills.”
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“We know there are a lot of underserviced areas in this country looking for discount grocers who can bring prices down for the community,” said Richard Dufresne, Loblaw’s chief financial officer, in a statement.
“These new stores, and our increased investment in the hard-discount format, is the next step in our ongoing commitment to delivering the best possible value.”
The new stores are part of a larger announcement from February, in which Loblaw committed to spending part of $2 billion on its store network. The company plans to build over 40 new stores, expand or relocate another 10, and renovate more than 700 others.
The grocer said this investment would create more than 7,500 jobs in Canada.
In May, the Reddit community named “Loblaws Is Out of Control” facilitated a month-long boycott protesting soaring grocery prices in Canada.
The subreddit, which has 91,000 members as of June 19, has decided to extend its boycott “indefinitely,” citing “ongoing dissatisfaction with the skyrocketing cost of groceries.”
Since then, international outlets like the BBC have covered the ongoing clash between Canadian shoppers and the grocery giant.
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