Appliance retailer The Home Depot Inc., which is preparing for the Canadian arrival of rival Lowe's Cos., said it would open 18 new stores in Canada during 2006, invest U.S. $385 million and create about 2,200 jobs.
The retailer currently operates 138 stores in Canada.
According to the AP, Lowe's announced plans to open six to 10 stores in the Toronto area, at a cost of $20 million per store. The stores would be similar in size and format to stores in the U.S.
However, John Williams of J.C. Williams Group Ltd. said Home Depot has already selected the best sites in expanding markets, such as Toronto and Calgary.
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