Mexico: Walmex to Invest us$1bn in 2010
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Tuesday, 23 February 2010 |
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Wal-Mart de Mexico SAB has announced plans to invest a record 12.5
billion pesos in 2010, Chief Executive Officer Scot Rank said with
convenience retail stores playing a role.
Wal-Mart de Mexico’s investment plan for new and remodeled stores
and distribution improvements is a 28 percent increase from 2009.
Walmex, as the company is known, will open 300 stores and restaurants
this year, adding to its current total of almost 1,500, according to
Scot Rank.
Rank, who succeeded Eduardo Solorzano as CEO in January 2010, seeks to
boost sales in poorer neighborhoods by opening more convenience stores
with smaller products, such as single-use boxes of cereal. The Bodega
Aurrera Express stores will account for 62 percent of the company’s new
locations this year. “We expect a gradual economic recovery for
this year,” Rank said, “but our investment plan doesn’t depend on a
revived economy.”
CstoreWorld 180210
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