Wal-Mart to expand presence in Canada

U.S. retail giant Wal-Mart plans to expand its network in Canada in what some analysts see as a preventive strategy to counter the impending arrival of American chain Target.

Wal-Mart should open 40 supercenters in Canada this year, including seven in Quebec. These projects also include the expansion and renovation of existing stores, representing an investment of $500 million.

At the end of January 2011, Wal-Mart had 325 outlets in Canada including 124 supercenters. The proposed new openings will bring this number to 164 by the end of January 2012.

source : newswire ca, radio canada ca