Loblaw Companies Limited plans to open or relocate nearly 40 stores across Canada this year as part of a $2B expansion.

The capital investment will see 38 stores under the No Frills, Shoppers Drug Mart, Independent City Market, T&T, and Maxi brands open or relocate in 2023. An additional 570 existing stores will be renovated or undergo environmentally-conscious conversions.

"The renovations range from expansions in our fresh hall, to updates to our front end and full refreshes of stores to modernize the look and the experience for customers," a spokesperson for Loblaw told STOREYS.

"We also continue our focus on reducing the environmental footprint of our stores, introducing energy savings and GHG reductions through new equipment."

Eighteen stores will be opened or relocated in Western Canada, 14 stores will be opened or relocated in Ontario, and three will be opened or relocated in both Quebec and Atlantic Canada.

The majority of stores slated for renovation are in Ontario, at 330, while 140 are located in Western Canada. Sixty are in Quebec and 40 are in Atlantic Canada.

Part of the new store plan includes opening more discount-format supermarkets in underserved communities, the spokesperson said.

Loblaw expects the capital investments, which also include the development of a modern distribution centre in the Greater Toronto Area, to create more than 6K new jobs in retail, supply chain, technology, and construction.

"By growing and innovating, we are advancing the priorities that matter to customers: outstanding shopping experiences, affordable options, and support for their health and wellness," Galen Weston Jr., the President and Chairman of Loblaw Companies, said in a release.

"This investment lives up to our purpose of helping Canadians live life well."