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Walmex to invest $813m in Mexican operations

RBR Staff Writer Published 19 March 2015

Wal-Mart de Mexico (Walmex) is taking it slow this year, investing only around MXN12.4bn ($813m) in expansion, including MXN5.6bn ($364.3m) to open new stores.

Walmart

This capital injection is slightly lesser when compared to last year.

The investment is in line with the company's strategy to double its business over the next 10 years through expansion and same-store sales growth, The Wall Street Journal reported citing Walmex chief financial officer Rafael Matute.

Walmex plans to expand its floor space in Mexico and Central America by 2.1% and 5.4% respectively, for overall floor expansion of 2.4%.

In addition to the investment allocated for new stores, the company will invest around MXN3.5bn ($227.7m) in remodeling and maintenance and MXN2.4bn ($156.1m) for technology, according to the publication.

Controlled by Wal-Mart Stores, Walmex opened 132 stores in 2014, and expanded its total shop floor area by 3.9%.

Walmex posted 3.4% rise in total sales in Mexico to MXN376bn in 2014, riding on growth in new stores since same-store sales declined by 0.2%.


Image: Walmex plans to expand its floor space in Mexico and Central America by 2.1% and 5.4% respectively. Photo: courtesy of Diego Lopez / Wikipedia.