Loblaw to invest $2.4 billion in the Canadian economy in 2026, with plans to build 70 new stores and create well over 9,000 jobs

Article content

The investment is part of a 5-year plan to invest $10 billion in Canadian communities by 2030

Article content

BRAMPTON, Ontario, Feb. 23, 2026 (GLOBE NEWSWIRE) — Today, Loblaw Companies Limited (TSX: L, “Loblaw” or the “Company”), Canada’s food and pharmacy leader, announced that it will spend $2.4 billion in 2026 to expand and renovate its store network, enhance its supply chain capabilities, and create jobs for people all across Canada.

Article content

Article content

At a time when Canadians are struggling with affordability and access to healthcare services, in 2026 Loblaw will open 70 new stores. This will include 34 Shoppers Drug Mart / Pharmaprix pharmacies and care clinics, and 31 hard discount No Frills and Maxi stores delivering value to communities. These new locations, along with the renovation of another 191 stores, and the continued construction of its roughly 1.2 million square foot automated distribution centre in Caledon, Ontario, will create an anticipated 9,700 retail and construction jobs from coast to coast.

Article content

Article content

This is the second investment in the company’s 5-year plan to spend $10 billion by 2030 – reinforcing Loblaw’s position as a major contributor to the growth of the Canadian economy, and to creating new avenues for customers to access value.

Article content

Article content

“Our success depends heavily on the strength of the communities we serve,” said Per Bank, President and CEO, Loblaw Companies Limited. “We see this as a significant investment in our network and capabilities as one of Canada’s largest retailers, but it is also an investment in the people we serve and their ability to access great value and quality healthcare. By helping Canadians live life well, our business gets stronger too.”

Article content

Every part of Canada will see investment as a result of this announcement:

Article content

Article content

Article content

Article content

Forward Looking Statements

Article content

This News Release contains forward-looking statements about the Company’s capital expenditure plans and their impact. Forward-looking statements reflect the Company’s estimates, beliefs and assumptions, which are based on management’s perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. The Company’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change. The Company can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Numerous risks and uncertainties could cause the Company’s actual results, and the size and impact of the capital expenditures described in this News Release, to differ materially from those expressed, implied or projected in the forward-looking statements, including those described in the Company’s continuous disclosure record available on SEDAR+ at www.sedarplus.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s expectations only as of the date of this News Release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.