The Wal-Mart company logo is seen outside a Wal-Mart Stores Inc company distribution centre in Bentonville, Arkansas recently. — Reuters Photo Bentonville, Arkansas, Feb 11 (Reuters) : Wal-Mart Stores Inc said it would invest about C$340 million ($269.16 million) this fiscal year to expand in Canada, lower than what it had budgeted for last year.
Wal-Mart's move comes less than a month after rival Target Corp said it would exit Canada. Sears Holdings Corp last year lowered its stake in its Canadian operations to about 12 per cent, after failing to find a buyer for its holding in the business.
Sales and margins at both Sears and Target have dwindled in Canada in the face of stiff competition from Wal-Mart.
Wal-Mart said on Wednesday it would spend about C$230 million of the planned investment to complete 29 super centres, including the expansion of several stores to add full grocery departments.
The company is also spending to expand its distribution network and its website, walmart.ca.
Wal-Mart had planed to spend C$500 million in Canada in the last fiscal year.
© 2026 - All Rights with The Financial Express
