Skip navigation

  1. Try the new Globe Investor beta site

    We're building you a new Globe Investor that is smarter, faster and easier to use.
    We'll be rolling out new sections, features and tools over the coming months.

  3. Check out these features:

News from Reuters

Home Depot Canada to open 18 stores, hire 2,200

05/04/06

TORONTO (Reuters) - Home Depot Inc. plans to open 18 new stores and hire 2,200 people in Canada before the end of the year, the world's largest home improvement retailer said on Wednesday, as it gears up before rival Lowe's Cos. enters the Canadian market.

Home Depot, which is already the dominant player in Canada's home improvement retail business with 138 stores, said it will spend C$450 million ($388 million) to finance the expansion.

Lowe's has said it plans to open six to 10 stores in the Toronto area next year. The second-largest U.S. home improvement retailer sees potential for as many as 100 stores in Canada in the long term.

Home Depot's main competitors in Canada include Boucherville, Quebec-based Rona Inc. , which has a network of about 600 stores ranging from community outlets to big box stores.

($1=$1.16 Canadian)

© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.


 

Back to top