Walmart Canada says it will spend $6.5 billion over the next five years as it opens dozens of new stores.
The retailer says the investment is the largest it has made since it entered Canada 30 years ago, but wouldn’t say exactly how many locations it will span.
It says new stores in Port Credit and Oakville, Ont., will open later this year, while a distribution centre in Vaughan, Ont., is also expected to launch in 2025. Three new stores Calgary, Edmonton and Fort McMurray, Alta., are due to open by 2027.
The news came as Walmart Canada also said Canada Cartage would purchase the retail giant’s fleet service, which was responsible for getting products from suppliers and distribution centres to stores.
Walmart Canada spokeswoman Sarah Kennedy wouldn’t say what the value of the deal is, its structure or expected closing date.
She says third-party carriers already handle about half of the retailer’s transactions involving fleet services.
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She says no staff employed by the company’s fleet service would be laid off as part of the sale because Canada Cartage will take on the workers, when the deal closes.
