Market News

Wal-Mart Opens First Vancouver Store

Wal-Mart opened its first Vancouver store Jan. 21 in the old Costco location near Grandview and Broadway. David Cheesewright, Wal-Mart Canada?s CEO, admitted cracking the Vancouver market has been a tough job, even though, by the company?s estimate, Vancouverites make some two million shopping trips per year to its stores outside of the city. The Grandview Wal-Mart opening represents the retailer?s long-sought break into the Vancouver market following the very public and political rejection of its proposed development on Southeast Marine Drive in 2005. Kevin Groh, Wal-Mart Canada?s director of corporate affairs, said the company has spent ?many tens of millions? tearing the old Costco store back to a bare box, and rebuilding it to its modern, sustainable standards. http://www.vancouversun.com/news/Mart+cracks+Vancouver+ market+with+Grandview+store/1195764/story.html Source: Canadian Grocer E-Newsletter, Jan. 30, 2009