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TORONTO - Wal-Mart Canada Corp., a subsidiary of Bentonville, Ark.-based Wal-Mart Stores, Inc., is preparing to open its first three Canadian supercenters today in Ontario, and said yesterday it plans to open up to 14 more units in 2007.
The first three Ontario locations open today in Ancaster, London, and Stouffville.
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In an Associated Press report, Wal-Mart Canada president and chief executive Mario Pilozzi was quoted as saying each new Canadian supercenter represents an investment of 15 million Canadian dollars ($13.3 million) to C$20 ($17.7 million). Pilozzi did not specify where additional supercenters will be located, as the retailer is still awaiting approvals.
Canadian retailers are bracing for the impact of Wal-Mart supercenters on their turf. Some analysts predict that the Wal-Mart supercenter will revolutionize the way Canadians shop.