Wal-Mart Stores Inc. will invest $470 million in its Canadian operations this year, principally to expand its network of Supercenters at the expense of its discount stores.
Wal-Mart Canada has earmarked 376 million Canadian dollars, or $353 million at current exchange, to open 35 Supercenters, which stock food and grocery products, and expand their number to 282 from 247. Included in the plans are six new stores, 10 expansions, 18 in-box conversions and one relocation. The number of discount stores will contract to 113 from 142, and the net gain in total store count will be six, to 395 from 389.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"