Wal-Mart Canada expansion includes 2 new stores

MISSISSAUGA, Ont. - Wal-Mart Canada says it plans to expand seven stores and open two new ones this fiscal year.

The retailer will also convert 20 of its stores into supercentres by adding a grocery section.

Wal-Mart Canada estimates the cost at $230 million, with an additional investment of $75 million to expand its distribution network and $35 million on on e-commerce initiatives.

The news comes after U.S.-based retailer Target announced it is pulling out of Canada and will be shutting down all 133 of its Canadian stores.

Target acquired the leases from retailer Zellers back in 2010 and has said it will work with an advisor to sell them.

The expansion will bring Wal-Mart Canada's store count to 396 by the end of January, 2016, consisting of 309 supercentres and 87 discount stores.

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  Wal-Mart Canada says it plans to complete another 29 supercentre projects, an expansion that is expected to generate about 3,700 construction jobs, 1,000 store jobs and 300 distribution centre jobs across Canada.