Walmart will build two new centres in the current fiscal year, bringing its Canadian store total to 396 locations from 394, financialpost.com reports. Currently, 280 of Walmart Canada’s stores contain a full grocery department, a figure that will rise to 309 by the end of the present fiscal year.
The expansion plan adds about 230,000 square feet of retail space to the company’s existing Canadian store network, representing an increase of 0.5% in 2015 compared with Walmart Canada’s 1.9% network square footage growth in 2014, according to estimates from analyst Vishal Shreedhar of National Bank Financial, cited by the source.
Walmart spent about USD 500 million in 2014 to add 1 million square feet of new retail space to its network, and about USD 450 million in 2013 to add about 1.4-million square feet of space.
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