Feb 19 (Reuters) - Canadian retailer Loblaw ( LBLCF ) said

on Wednesday it plans to invest C$2.2 billion ($1.55 billion)

this year to renovate existing stores, open new outlets and

create about 8,000 jobs.

The company, which operates pharmacy chains including

Shoppers Drug Mart and discount banners including No Frills and

Maxi, said last year it expects to invest C$2 billion to create

about 7,500 jobs.

The announcement comes a day ahead of Loblaw's ( LBLCF )

fourth-quarter results.

The company also expects to invest more than C$10 billion

over the next five years, it said.

The investment adds to the more than C$8 billion it has

invested since 2020 into improving and expanding its network of

stores and modernizing its supply chain.

The retailer missed third-quarter revenue estimates in

November, hurt by a demand slowdown for its household items and

electronics.

($1 = 1.4203 Canadian dollars)

(Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj

Kalluvila)