BRAMPTON, Ontario, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Today, Loblaw Companies Limited (TSX: L, “Loblaw” or the “Company”), Canada’s food and pharmacy leader, announced that it will spend $2.4 billion in 2026 to expand and renovate its store network, enhance its supply chain capabilities, and create jobs for people all across Canada.

At a time when Canadians are struggling with affordability and access to healthcare services, in 2026 Loblaw will open 70 new stores. This will include 34 Shoppers Drug Mart / Pharmaprix pharmacies and care clinics, and 31 hard discount No Frills and Maxi stores delivering value to communities. These new locations, along with the renovation of another 191 stores, and the continued construction of its roughly 1.2 million square foot automated distribution centre in Caledon, Ontario, will create an anticipated 9,700 retail and construction jobs from coast to coast.

This is the second investment in the company’s 5-year plan to spend $10 billion by 2030 – reinforcing Loblaw’s position as a major contributor to the growth of the Canadian economy, and to creating new avenues for customers to access value.

“Our success depends heavily on the strength of the communities we serve,” said Per Bank, President and CEO, Loblaw Companies Limited. “We see this as a significant investment in our network and capabilities as one of Canada’s largest retailers, but it is also an investment in the people we serve and their ability to access great value and quality healthcare. By helping Canadians live life well, our business gets stronger too.”

Every part of Canada will see investment as a result of this announcement:

• Eastern Canada – 4 new stores and more than 600 jobs
• Quebec – 15 new stores and more than 1,985 jobs
• Ontario – 27 new stores and 3,775 jobs, including roles associated with the company’s two new automated distribution centres in Southern Ontario
• Western Canada – 24 new stores and more than 3,400 jobs

Media inquiries please contact: pr@loblaw.ca

Forward Looking Statements

This News Release contains forward-looking statements about the Company’s capital expenditure plans and their impact. Forward-looking statements reflect the Company’s estimates, beliefs and assumptions, which are based on management’s perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. The Company’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change. The Company can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Numerous risks and uncertainties could cause the Company’s actual results, and the size and impact of the capital expenditures described in this News Release, to differ materially from those expressed, implied or projected in the forward-looking statements, including those described in the Company’s continuous disclosure record available on SEDAR+ at www.sedarplus.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s expectations only as of the date of this News Release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Loblaw Companies Limited

Loblaw Companies Limited is Canada’s food and pharmacy leader, as well as its largest retailer and private sector employer with more than 220,000 colleagues across the country. And as a source of the food and wellness essentials Canadians count on every day, Loblaw believes that the better Canada does, the better the company does. This mentality comes through in the company’s purpose – helping Canadians Live Life Well – and guides so much of its decision-making as an organisation. With an unmatched network of 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada’s favourite and most-trusted brands: President’s Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial.  The Company’s loyalty program, PC Optimum, has more than 16 million active members and is one of Canada’s largest and best-loved reward programs.