Loblaw Companies Limited is promising a $2.2-billion investment into the Canadian economy this year that will create thousands of jobs.
The company says the investment will create an anticipated 8,000 new jobs in communities across the country while improving Canadians’ access to affordable food and healthcare services.
Planned investments for 2025 include 80 new stores under the No Frills, Maxi, Shoppers Drug Mart, Pharmaprix and T&T banners, including around 50 “hard discount stores.”
Loblaw also has plans to renovate more than 300 grocery and pharmacy locations.
"As a proudly Canadian owned and operated business, we'll also work to showcase Canadian-made value and quality across our entire network," said Per Bank, Loblaw’s president and CEO.
"Whether it's increasing orders for products made in Canada or further broadening our Small Supplier program, we're committed to home-grown success."
Today’s announcement made promises beyond 2025 as well, as the company anticipates investing more than $10 billion into the Canadian economy by 2030.
This morning’s announcement may hit all the right notes for some, but it appears as though it won’t be enough to stop others from boycotting the massive food and pharmacy chain.
Boycotts of Loblaw started in May 2024, as Canadians from coast-to-coast attempted to take a stand and protest high food prices.
In a Reddit thread about Loblaw’s announcement today, one commenter said, “going to be harder to boycott. But let’s keep going. Lots of options out there.”
Another chimed in with: “How about you just reduce the markup on your groceries instead of wasting the money on new stores we’re going to continue to boycott because you’re not using the money to lower food costs?”
