Wednesday, January 26, 2011

This should get the phones ringing...

As I previously suggested it didn't take long for Wal-Mart Canada to react to Target coming to Canada.  My guess is that each of these new stores will cost about $30 million a pop to develop so it's great news for the economy and the retail development business in Canada....  it will motivate other retailers to react by freshening up or repositioning their stores in our marketplace and this approximate $1.2 billion dollar investment by Wal-Mart will create a lot of spin off jobs...  

For all you folks on PEI who love to work on rumours... "it's not going on the lot we're developing across from Bed, Bath and Beyond" and that's all I know (or prepared to talk about)...

Wal-Mart Canada plans to open 40 supercentres

The Canadian Press
Date: Wednesday Jan. 26, 2011
MISSISSAUGA, Ont. — Wal-Mart Canada is ramping up expansion plans for its supercentres -- the extra-large locations that combine general merchandise and groceries.

The retail giant says it will open 40 new Canadian supercentres in its upcoming fiscal year starting Feb. 1 through both renovating and relocating some existing stores and constructing new ones.

While the location of the new stores hasn't been announced yet, the plan will expand the supercentre concept into Manitoba and Quebec, and represents a combined investment of nearly $500 million.

Wal-Mart said the plan could create more than 9,200 jobs in stores and in the construction sector.

The retailer opened its first Canadian supercentres in Ontario in 2006.

At the end of this month it will have 325 stores, of which 124 will be supercentres.


Anonymous said...

I don't see any suggestion in that news item that PEI will be seeing development of a Walmart Superstore. Are you drawing an inference based on the numbers? Just wondering.

Anonymous said...

Walmart supercenter mandate is 2012 to be in a new building,where it will be close to Sears.

Yes this will generate more sales revenue for pei and spin off`s.

also sobeys have a large development plan for the old delois area as well.