Wal-Mart Prepares For Canadian Arrival Of Competitor Target With Aggressive 2013 Expansion
By Angelo Young | January 23, 2013 5:51 AM EST
Wal-Mart Stores Inc. (NYSE:WMT) will invest $453 million to expand its Canadian branch, Walmart Canada, in 2013, opening 37 supercenters and bolstering its distribution network as its primary competitor, Target Corp. (NYSE:TGT) plans to open as many as 125 stores by the end of this year.
The move by the Bentonville, Ark., company will increase its retail space by 1.4 million square feet. The world's largest retailer also said the expansion will add about 7,000 "store, trade and construction" jobs.
The move anticipates the arrival in Canada of Wal-Mart's primary competitor, Target, which will open its doors in the Great White North sometime next month, the company has said.
Walmart Canada says it will end January with 379 stores, including 209 of its larger outlets. The company is opening nine stores simultaneously in Canada on Friday. Last year the company opened or refurbished 79 outlets, including 39 locations that were bought from privately held Canadian merchandise chain Zellers.
To contact the editor, e-mail:
Most Popular Slideshows
- George Clooney And Amal Alamuddin's Wedding In Venice: Photos Of Groom And His Family, Friends [Slideshow]
- NFL Recap - Week 4: Green Bay Packers 38, Chicago Bears 17 [PHOTOS]
- Walking Is Superfood For Fitness; Celebrities Who Walk For Health
- Derek Jeter With The New York Yankees Through The Years [IN PICTURES]
Join the Conversation
- Hong Kong Protests Cause Closure Of Banks & Instagram Outages In China
- Federal Court Orders Coles To Hang Signs For 3 Months That It Passed Off Par-Baked Bread As Fresh From The Oven
- Microsoft To Have Its Own Retail Outlet in Manhattan
- Telstra To Convert Old Payphones Into Wi-Fi Hotspots
- #Bendgate Video Hits Almost 46 Million In 5 Days, But Impact On Apple’s Finances Minimal
- Forget Nexus 6 Release Date, Android Phones Will Soon Showcase Pure Google Apps & Features
- 3 Reasons to Get the Samsung Galaxy Note 4 Instead of the iPhone 6
- iPhone 6 vs Moto G 2014: Motorola’s Budget Smartphone Takes On Apple’s Premium Smartphone
- BlackBerry Passport Sold Out As Preorders Reached 200,000
- iOS 8 And iOS 8.0.2 Security Flaw Revealed, Anyone Can Easily Bypass Touch ID And Passcode Security Features
- Galaxy Note 4 vs Nexus 6: Which Smartphone Dominates
- Ukraine Under Pressure To Accept EU Brokered Gas Deal With Russia: Resists High Prices Demanded By Russia