Walmart Canada Completes Acquisition of Leases for 39 Stores

Walmart expects this announcement will create more than 5,000 construction, trade and store jobs and will represent a significant investment in Canadian communities.

Sep 26 2011 --- Walmart Canada announced that it has completed the acquisition from Target Canada of leases for 39 store locations currently occupied by Zellers. Walmart also announced the locations acquired. It is anticipated that these locations will open as Walmart stores in late 2012. Walmart expects this announcement will create more than 5,000 construction, trade and store jobs and will represent a significant investment in Canadian communities.

“We are pleased to have the opportunity to bring more Walmart stores to Canadians across the country,” said David Cheesewright, Walmart Canada president and CEO. “Canadians understand our value and quality proposition, and customers at all income levels rely on us to save them money and to be their one-stop shopping destination.”

The new Walmart stores are expected to open in late 2012 and will be a mix of discount stores, which offer general merchandise and a broad selection of pantry foods, and supercentres, which offer general merchandise as well as a full selection of groceries under one roof.

“Each new Walmart store will deliver everyday low prices on the thousands of items Canadians need. We know that times are tough and we are committed to helping save Canadians money,” added Cheesewright.

Price audits show shoppers save more than 11 per cent on a basket of everyday goods when they shop at a Walmart Canada store, compared to the market. The company estimates that it saves Canadians $17 million each month, and announced earlier this year that by rolling back more than 100,000 prices in 2011 Walmart would save Canadians an additional $55 million in 2011.