Walmart’s $500m Canada growth plan
While Walmart is grappling for growth in the US, it’s upping the ante across the border in Canada.
The world’s biggest retailer is planning to invest $500m (£307m) in Canada over the next 12 months, completing 35 supercentre projects and revamping older sites.
The superstore also said it’ll expand distribution networks to support growth and continue expanding its e-commerce operation in Canada, Walmart.ca.
Walmart hopes its move will be timely. Canadian economic growth has been struggling to get a foothold, and consumer confidence is at an eight-month low.
"Customers in every region of Canada are looking to save money on their entire list of shopping needs," said Shelley Broader, Walmart Canada's president and chief executive.
"Delivering on our commitment to help lower the cost of living is our top priority, and our growing network of supercentres and our expanding walmart.ca offering enable us to do just that", she added.
Walmart’s supercentres carry over 100,000 products each. Walmart.ca now offers more than 150,000 products and free shipping across most of the country.
Walmart Stores cuts its quarterly profit outlook after a cut in US food stamp benefits and the restructuring of Sam’s Club – its US cash and carry arm – hit performance.