Lowe's Canada Expansion
Monday, July 27, 2015 at 2:09PM Lowe’s Canada is expanding, announcing that in addition to completing the acquisition of 12 former Target stores, they will also open 2 new locations in Ontario. This expansion will increase Lowe’s Canada total store count from 40 to 54.
Lowe’s acquisition of Target’s former stores was for a total purchase price of $113 million. Lowe’s construction plans will be an investment of approximately $38 million. Over 2,000 new jobs will be created. It will have 37 stores in Ontario, 3 in Saskatchewan, 9 in Alberta and 5 in British Columbia. Many of these areas were currently unsaturated by Lowe’s.
“These 14 new locations are a tremendous win for us in Canada, accelerating our growth across the country and bringing our total store count to 54 locations," said Sylvain Prud'homme, president of Lowe's Canada. "We continue to receive a positive reaction from our customers on our store experience and this helps us reach additional communities more quickly."
Source: Chain Store Age