Loblaw closing 52 unprofitable stores
Source: http://www.cbc.ca/news/business/loblaw- ... -1.3164578
Loblaw Companies Ltd. plans to close 52 unprofitable stores in Canada over the next year, it says in its second-quarter earnings release.
The company made the announcement Thursday, saying the closures will affect all of its banners and formats.
"The list includes gas bars, Joe Fresh standalone stores and select pharmacies and grocery stores," a spokesperson with the company told CBC News.
Loblaw Companies has more than 2,300 stores, including Loblaws, Provigo, and Extra Foods. It also owns Shoppers Drug Mart. The spokesman added that even with the store closures, Loblaw is on track to grow the number of jobs in its network of stores this year.