- Reuters
UPDATE 1-Retailer Loblaw expects to invest $1.5 bln in Canada, create 7,500 jobs
Canadian food and pharmacy retailer Loblaw Companies said on Tuesday it expects to invest over C$2 billion ($1.48 billion) this year to create more than 7,500 jobs. While the investment is in line with last year's, the retailer plans to create roughly 1,500 more jobs in 2024. Loblaw plans to use the investment to improve its store network by renovating more than 700 stores and building more than 40 others.
- Reuters
Retailer Loblaw expects to invest $1.5 billion in Canada, create 7,500 jobs
Loblaw plans to use the investment to improve its store network by renovating more than 700 stores and building more than 40 others. The retail chain in November beat third-quarter profit estimates on steady demand for essentials amid surging food prices in the country.
- Reuters
UPDATE 3-Canada's Manulife rolls back specialty drug policy after Loblaw deal backlash
Manulife Financial Corp on Monday rolled back a policy and will allow Canadians to fill specialty medication prescriptions at any pharmacy, following backlash after the insurer signed an exclusive arrangement with Loblaw Co. The insurer's announcement in January that its Specialty Drug Care program would be primarily delivered through Loblaw's Shoppers Drug Mart had sparked competition concerns within the pharmacy sector and complaints from consumers on social media. "We have listened to and are addressing the concerns we have heard over the past week," Manulife Canada's CEO, Naveed Irshad, said, adding that the change impacts a small number of its members.
