07:17 AM EST, 02/19/2025 (MT Newswires) -- Loblaw Companies ( LBLCF ) on Wednesday said it will invest more than $10 billion by 2030, with about $2.2 billion earmarked for this year, to construct 80 new stores and renovate 300 existing grocery and pharmacy locations.

The investment, which will also create 8,000 jobs across the country, will also see the initial opening of the 1.2 million square foot distribution center in East Gwillimbury, Ontario, the company said.

"At a time when Canadians need value the most, we're continuing to invest meaningfully in the Canadian economy and in delivering value to our customers," said Loblaw ( LBLCF ) President and Chief Executive Per Bank.