Wal-Mart investing $500M in Canada

Wal-Mart Stores Inc. (NYSE: WMT) announced it is investing $500 million in Canada this year and planning to add 7,500 jobs, including construction, to bolster its presence in the U.S. neighbor to the north.

The Bentonville, Ark.-based retail giant’s store count in Canada will rise to 395, including 282 supercenters and 113 discount stores, by the end of January 2015, according to Reuters.

As part of the plans, Wal-Mart’s investment includes more than $376 million for store projects, $91 million for distribution networks and $31 million for e-commerce projects. The company’s expansion announcement comes a week after Target Corp. said it would open nine new stores across Canada, adding to the 124 it opened in 2013, Reuters reported.

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