Early this year, Walmart announced the opening of 11 new supercenters in Canada in the first month of the year, but that retail expansion pales in comparison to the company’s latest venture. The big box store now plans to invest $270.1 million with our neighbors to the north and open 29 additional stores.
The Wall Street Journal reports that Walmart will build the new supercenters over the next year, as well as expand its distribution network and e-commerce initiatives in the country.
The news of Walmart’s expansion into Canada comes just a month after retail rival Target announced it would shut down its $4 billion Canadian operation.
Walmart’s new expansion plan is expected to be finished by January 31, 2016.
As we mentioned earlier, this isn’t Walmart’s first major expansion into Canada.
In addition to the 11 supercenters that opened in January, the company announced in February 2014 that it would invest $500 million into the country, building 35 new stores.
Wal-Mart Spends $270.1 Million to Expand in Canada [The Wall Street Journal]
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