Wal-Mart’s Mexico Division to Spend $1.1 Billion to Expand Chain
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Wal-Mart Stores Inc.’s Mexican and Central American unit plans to spend 15 billion pesos ($1.1 billion) to open stores and improve its e-commerce technology, aiming to spur growth in the region as U.S. sales slow.
The company expects to spend 8.4 billion pesos opening stores, adding 3.7 million square feet of space, according to a statement yesterday. Mexican floor space will grow 5 percent, with Central American stores expanding 7.6 percent.