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Walmart Canada growth to slow

Walmart’s store count in Canada will increase by nine units during the coming fiscal year following an exceptional rate of growth in 2012.

Walmart Canada disclosed plans to invest $450 million in distribution center projects and new store construction and the expansion, remodeling and relocation of existing units. The company didn’t provide details on the distribution projects, but did say it would undertake at least 37 supercenter projects. This past year the company completed a larger than 73 projects as a result of the acquisition of former’s Zeller’s locations it picked up from Target.

Walmart Canada expects to open nine new stores by the end of its current fiscal year, giving it a year end total of 379 units. The 37 store projects planned for 2013 will increase the company’s 2014 year end total by only nine units to 388 as a large number of the 37 projects are expansions, relocations and remodels. Walmart Canada continues to undergo capital expenditure program modeled after the U.S. involving the conversion of discount stores to supercenters. By year end, 209 of Walmart Canada’s 379 stores will be supercenters.

"We’re truly delighted to be adding a full grocery section to more locations across the country, including the opening of our first supercentres in the Maritimes," Walmart Canada president and CEO Shelley Broader said in reference to the nation’s Eastern provinces of New Brunswick, Nova Scotia and Prince Edward Island. "We look forward to helping our customers coast-to-coast save money on groceries as well as their general merchandise purchases."

 

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