Wal-Mart $500 Million CANADA Expansion 7500 New Jobs Retailers Looking Beyond U.S. Market

Wal-Mart Stores Inc (WMT) announced it will invest $500 million this year to strengthen its presence in Canada, creating more than 7,500 jobs including construction reports @ IHUMANMEDIA.COM

The investments include more than $376 million for store projects, $91 million for distribution networks to expand fresh food capability and $31 million for e-commerce projects.

Wal-Mart’s expansion plans comes a week after Target Corp (TGT) said it would open nine new stores across Canada, adding to the 124 it opened last year. — WATCH VIDEO CANADA’S ECONOMIC OUTLOOK 2014

Over the past year U.S. retailers such as Wal-Mart and Target have expanded in Canada, posing a threat to local retailers such as Loblaw Cos Ltd (TOR:L), the country’s largest grocer, and Empire Co Ltd’s (EMP-A.TO) Sobeys grocery chain.

Wal-Mart said on Tuesday it planned to complete 35 supercentre projects in Canada by January 31, 2015, adding one million square feet of retail space.

Wal-Mart’s store count in Canada will rise to 395 by the end of January 2015, including 282 supercentres and 113 discount stores, the retailer said.

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