BRAMPTON, Ont. -- Loblaw Cos. Ltd. says it will build more than 40 new stores as part of a record investment plan of more than $2 billion.

The parent company of Loblaws and Shoppers Drug Mart says it will also expand or relocate another 10 locations.

It will renovate more than 700 others.

Loblaw says the company's capital investments this year are expected to create more than 7,500 jobs in Canada.

The company has a network of 2,500 stores across the country.

In addition to Loblaws and Shoppers Drug Mart, the company's banners include No Frills, Real Canadian Superstore and T&T.

This report by The Canadian Press was first published Feb. 20, 2024.