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Tuesday, April 21, 2009

Mexico News - Walmart Bullish on Mexico


Walmart Bullish on Mexico
By Christa Thomas

Mexico's largest retailer, Wal-Mart de Mexico, recently announced an aggressive investment plan for Mexico in 2009. With an infusion of $11.8 billion, the company will create 14,500 new jobs directly and 25,000 indirectly.

Wal-Mart de Mexico now operates 1,208 retail locations in five retail formats. Last year the company opened 182 stores and had a presence in 224 cities. In 2009, the company plans to open 252 new business units of its various formats (225 Bodega Aurrerás, 13 Walmarts, 4 Superamas, 7 Sam’s Clubs and 3 Suburbia apparel stores). These units represent a sales floor growth of 10 percent.

Eduardo Solórzano, CEO of Wal-Mart de Mexico, stated that "in the short term we are going to focus on increasing client traffic in our stores through prices. We are going to improve our prices." Solórzano said, "Today, more than ever, Mexican families need the savings that can help them improve their standard of living. During 2008, we managed to generate savings for our clients of more than 7.3 billion pesos. Our 2009 investment plan will allow us to take the savings offer that characterizes us to more rural and urban populations, providing them with a wide variety of goods at Every Day Low Prices. At a time of economic challenge for many Mexican families, Wal-Mart de Mexico restates its long-term commitment to our country by generating new jobs."

Source: www.walmartmexico.com.mx