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UPDATE 1-Walmart Canada to invest over C$500 million on store upgrades

Published 2021-03-15, 11:48 a/m
© Reuters.

(Adds details on store upgrades, background)

March 15 (Reuters) - Walmart (NYSE:WMT) Canada WMT.N said on Monday it plans to invest more than C$500 million ($400.06 million) this year to refurbish its stores.

It would be the largest yearly investment in store upgrades, with more than 60% of outlets benefiting from the plan, the Canadian arm of the world's largest retailer said.

In July, Walmart Canada announced plans to spend C$3.5 billion over the next five years to strengthen its e-commerce business and renovate stores. Canada said on Monday the plan was expected to create more than 2,000 construction jobs in the country. ($1 = 1.2498 Canadian dollars)

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