As Walmart Canada’s business grows – especially with grocery and e-commerce picking up significant momentum – Walmart will not compromise on offering the everyday low prices customers trust – both online and in-store.
The investment will also create hundreds of Canadian construction jobs and forge new partnerships with Canadian technology companies.
Reinvented, modernized “stores of the future”:
Renovating over 150 stores over the next three years – over one-third of the store network
New investments are in addition to over $1 billion invested into remodeling and opening stores over the past five years
Accelerating digitization to create “smarter stores”, including:
Expanded electronic shelf labels, shelf scanners to monitor product volumes, robotics and computer vision cameras to simplify, minimize touches and maximize efficiency and accuracy
A new checkout experience to reduce touchpoints, including tap-to-pay, new bigger self-checkout and “Check Out With Me” mobile payment technology to allow associates to checkout customers anywhere in the store
Accelerating the omni offering for customers and creating thousands of new omni associate jobs
Expanding the full “Walmart Pickup” offering to approximately 270 stores – or 70% of locations – by end of 2020
Piloting “hybrid locations” – supercentres with “micro fulfilment centres” in their backroom to increase the speed of fulfilment for pickup and delivery
Investing in new technology to:
Accelerate the pickup experience, including advanced notification
Improve our fulfilment centre operations to increase speed and trackability.
Investing $1.1B to build two new distribution centres and renovating an existing distribution centre creating hundreds of construction jobs:
Vaughan, ON: A next generation 550,000 square foot distribution centre at 11110 Jane Street (400 Highway and Teston Road) slated to open in 2024:
The facility will leverage next generation automation and technology working with Vanderlande
Surrey, BC: New 300,000 square foot distribution centre currently under construction at 19500 26th Ave slated to open in 2022:
Working with Witron on the site’s distribution logistics technology
Cornwall, ON: New automated systems in an existing distribution centre to manage apparel, health and beauty, and other small general merchandise items slated to go live in early 2021:
The systems will feature machine learning, Cobot Technology which can work in concert with associates to improve the accuracy and efficiency of operations
Ramping up capacity in its distribution centre system through new leading-edge technologies:
New next generation warehouse management systems which are omni capable in meeting the future needs of both physical stores and e-commerce
Investing in telematics and “internet of things” sensors across over 2,200 trailers to give real-time information around the quality and freshness of its deliveries
Launching world-leading artificial intelligence software in partnership with o9 to more accurately predict and better plan volume to ensure Walmart’s customers get what they want, when they want
Scaling the blockchain transportation payments platform with Toronto based DLT Labs – the world’s biggest blockchain solution for transportation payments system
Using new machine learning training software to support improved training and safety on the front lines of our distribution centre and fleet operations with Axonify, a Waterloo based micro-frontline learning company.
Quotes:
“Millions of customers choose to shop with us in-store and online every day – and that’s a tremendous honour,” said Horacio Barbeito, President and CEO, Walmart Canada. “Today’s significant investment will position us for future growth and make Walmart Canada even better for our associates and our customers. We are doubling down on our focus on the customer experience – not just to keep up but to lead and to be the very best in Canada.”
“We need to do everything we can to delight our customer every single time they choose to shop with us, whether it’s online or in the store. We’re challenging ourselves to be better and be relentlessly focused on excellent omni customer service and experience,” said Sam Wankowski, Chief Operations Officer, Walmart Canada. “This means better stores, quicker service and doing what Walmart does best – focusing on customers, always at Walmart’s everyday low prices.”
“The retail business is as dynamic as ever and this investment ensures we’re developing a supply chain that is the envy of the world. The better the supply chain, the quicker our customers can get the products they want. This investment will transform our supply chain and create hundreds of Canadian construction jobs along the way,” said John Bayliss, Senior Vice President, Logistics and Supply Chain, Walmart Canada.
About Walmart Canada:
Walmart Canada operates a growing chain of more than 400 stores nationwide serving more than 1.2 million customers each day. Walmart Canada’s flagship online store, Walmart.ca is visited by more than 900,000 customers daily. With more than 90,000 associates, Walmart Canada is one of Canada’s largest employers and is ranked one of the country’s top 10 most influential brands. Walmart Canada’s extensive philanthropy program is focused on supporting Canadian families in need, and since 1994 Walmart Canada has raised and donated more than $400 million to Canadian charities. Additional information can be found at walmartcanada.ca, facebook.com/walmartcanada and at twitter.com/walmartcanada.
SOURCE Walmart Canada
For further information: For media inquiries: Adam Grachnik, [email protected], 437-237-3497
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
