Walmart Canada to invest over C$500 million on store upgrades

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(Reuters) - Walmart Canada said on Monday it plans to invest more than C$500 million ($400.06 million) this year to refurbish its stores.

It would be the largest yearly investment in store upgrades, with more than 60% of outlets benefiting from the plan, the Canadian arm of the world's largest retailer said.

In July, Walmart Canada announced plans to spend C$3.5 billion over the next five years to strengthen its e-commerce business and renovate stores.

Walmart Canada said on Monday the plan was expected to create more than 2,000 construction jobs in the country.

($1 = 1.2498 Canadian dollars)

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)