Consumer
Walmart Bets $6 Billion on Mexico Even as Economy Slows
Walmex will use the funds to open more stores under the Bodega Aurrera, Sam’s Club, Walmart Supercenter and Walmart Express brands.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
Wal-Mart de Mexico SAB, the local unit of the US retail giant, plans to invest $6 billion this year in its Mexico operations to add more locations and robotic logistics hubs, escalating its bet on the market despite economic challenges and a brewing US trade conflict.
The expansion will create 5,500 jobs, Chief Executive Officer Ignacio Caride said at Mexican President Claudia Sheinbaum’s daily news conference just minutes before heading to the company´s annual meeting with investors. The announcement is a boon for Sheinbaum, who is trying to fend off the threat of tariffs and a pullback in government spending.