Wal-Mart de Mexico Plans 20% More Investment in 2018

03/06/18 09:22 PM EST
   By Anthony Harrup 

MEXICO CITY--Retailer Wal-Mart de Mexico SAB intends to invest 20.9 billion Mexican pesos ($1.12 billion) in 2018, dividing most of the money among new stores, remodelings and logistics.

The unit of Bentonville, Arkansas-based Walmart Inc., also known as Walmex, said Tuesday that 30% of the investment will be on maintenance and remodeling of existing stores, 29% on store openings, and 28% on logistics.

The retailer is earmarking 10% of the money for technology and the development of its omnichannel strategy, and the remaining 3% to upgrade infrastructure for handling perishables.

Walmex "will be investing in high-return projects and building the foundations for the long term," the company said in a release.

The planned capital expenditure is 20% more than the 17.4 billion pesos that Walmex invested in 2017.

Walmex is Mexico's largest retailer with sales last year of around $30 billion, accounting for about 6% of Walmart Inc.'s global sales.

The company operated 2,367 stores in Mexico at the end of February, and 783 in Central America.


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

March 06, 2018 21:22 ET (02:22 GMT)

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