Loblaw to invest approximately $1.2 billion in capital expenditures through remainder of 2026, opening more hard discount stores to help lower prices for more Canadians

Remaining 2026 capital expenditure investment will support additional new locations and planned store renovations as Loblaw responds to growing demand for value and convenient healthcare

BRAMPTON, Ontario, Sept. 01, 2026 (GLOBE NEWSWIRE) — Loblaw Companies Limited (TSX: L, “Loblaw” or the “Company”) expects to invest approximately $1.2 billion in capital expenditures through the remainder of 2026 as it continues to expand and improve its grocery and pharmacy network in response to customer needs.

The Company had previously announced plans to invest $2.4 billion in capital expenditures on a full year basis in 2026. With approximately half of that investment now deployed, the Company’s remaining plans include accelerating the opening of new grocery stores and pharmacies, renovating existing locations, and continuing to develop new store formats and concepts.

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The Company now expects to open approximately 75 new locations in 2026, compared with approximately 70 planned at the beginning of the year. The increase reflects strong customer response to Loblaw’s new locations and confidence in the formats where the Company is investing.

The broader $2.4 billion capital investment program is expected to create approximately 9,700 retail and construction jobs in 2026. This is the second in Loblaw’s 5-year plan to invest $10 billion in capital in Canada by 2030.

“Canadians are being thoughtful about every dollar they spend. We see that in how they shop our stores, the brands they choose, and how they use our loyalty and ecommerce solutions,” said Per Bank, President and CEO, Loblaw Companies Limited. “We have a significant investment program underway, and we’re putting that capital behind the parts of our business that meets the needs of Canadians. That includes accelerating our network expansion efforts to reach more customers, faster.”

To date in 2026, Loblaw has opened 38 new grocery stores and pharmacies in Canada – 21 grocery stores and 17 Shoppers Drug Mart locations – with dozens more planned through the remainder of the year.

“We’re very happy with how our new stores are performing,” said Mr. Bank. “As they mature, we’re seeing strong double-digit same-store sales growth. That gives us confidence in our expansion strategy and in continuing to invest behind the formats customers are choosing.”

Loblaw’s grocery expansion is focused predominantly on its No Frills and Maxi banners, as more Canadians choose hard discount formats to help manage their household budgets. The Company is also using new stores to test different concepts and operating models.

In Komoka, Ontario, a new-look No Frills store combines the banner’s focus on low prices with a refreshed design and expanded fresh and prepared-food offering. In Dutton, Ontario, Loblaw introduced a smaller rural format with a curated 4,000-product assortment designed to provide a full-value grocery shop more efficiently in smaller communities.