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Walmart has entered the residential real estate market with plans to build new, large-scale stores in Canada, the United States and other parts of the world, a move that will likely further expand its reach in the region and potentially even beyond.
In addition to the Walmart Supercenter in Winnipeg, the company has a second store in Toronto that opened in October and a planned store in Mississauga.
Walmart’s plans have not yet been announced, but it is likely that a store in Canada is not far off.
The company has plans to open a store and grocery store in the Greater Toronto Area, which is the most populous Canadian market.
The chain is also planning to open another store in New York City, as well as a second one in Florida, where it has plans for another two stores, said Jeff Wilkins, Walmart Canada’s vice-president of retail sales.
Walmart plans to expand its presence in Canada by 2020 and is expected to have 50 stores in the country by 2020, Wilkins said.
The chain has also invested heavily in Canada.
The mall that will house Walmart’s headquarters in Toronto has a parking garage and a restaurant, as do other locations in the city.
In January, Walmart opened a store at the Canadian Tire Centre in Toronto.
It also has plans in Canada to open stores at the University of Manitoba, the University College of Art and Design in Edmonton and the Royal Canadian Legion, Wilkes said.
Walmart is also in talks with the Canadian government to set up a Canadian headquarters in Winnipeg and is in the process of finalizing an agreement with the province to buy a 20 per cent stake in the retailer.
Winnipeg has become a major hub for Walmart, which has about 50 stores and has been a leader in the industry for more than a decade.
“We’ve been in this space for a while, and the Walmart brand has been here for years,” Wilkins told reporters on a conference call with reporters.
“We’re looking forward to expanding that presence, expanding our footprint, and opening new stores.”
WalMart’s expansion has been driven by a growing number of competitors that have entered the market.
Walmart announced plans to create a Canadian office for its international operations in 2014 and then a Canadian subsidiary for its home store business in 2016.
That followed a similar move by Walmart to buy the company from billionaire Sam Walton in 2014.
According to a 2015 Wall Street Journal report, Walmart plans on creating an office and store in China, with plans for stores in Toronto, Toronto, New York and Montreal.
The report said Walmart also plans to invest $1 billion in a new Canada headquarters.
As Walmart’s popularity grew, it began expanding its footprint outside of the U.S.A. The Canadian company said in its most recent quarterly financial report that it is expanding its business to include more than 2,000 stores in 21 countries.
The expansion will be focused on the United Kingdom, the Netherlands, Germany, the U, France, Japan, Mexico, Australia, South Korea and China, the report said.
Walmart is also looking to build its presence globally.
In Canada, Walmart’s expansion is likely to lead to a rise in its share price.
The retail giant’s stock rose more than 15 per cent this year.
The average price of Walmart stock, which includes the stock and options, rose 17.7 per cent to $24.98 on Thursday.
Walgreens announced plans earlier this year to open two stores in Ontario and has also announced plans for two more stores in Saskatchewan, with more to come.
On Tuesday, Walgreens also announced it will close more than 1,300 stores, with the majority of the closures to focus on lower-income communities.
Canadian Prime Minister Justin Trudeau announced plans on Monday to close more stores, including its own, within the next few months.
For more information about Walmart, visit Walmart Canada.