MEXICO: Wal-Mart plans Central American expansion
Wal-Mart de Mexico y Centroamerica has revealed plans to develop its Central American unit, announcing its intention to invest some MXN18.97bn (US$1.6bn) during 2011.
The world's largest retailer plans to invest the money in opening 445 stores over the year, with some 365 of them set to be opened in Mexico. Across its Central America and Mexico region, the retailer intends to increase its footprint by 11.9%, with 12.2% growth in Mexico.
Speaking at an analyst day on Thursday (24 February), the division's CEO, Scot Rank, said the move would generate around 20,000 new jobs and over 40,000 indirect jobs in the construction industry.
Rank said that in 2011, the company will invest a record amount in Mexico of around MXN14.09bn.
"Never before have we invested such a large amount of resources in a single year, and it is proof of our commitment to and confidence in Mexico," said Rank.
Help test our new apparel sourcing tool.
Over the past decade and more, industry associations and individual companies have launched numerous initiatives with the aim of addressing and reducing the environmental and social impacts of clothin...
Here is a roundup of the top five most-read articles on just-style this week. Click on each headline for the full story....
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- Target unveils "ambitious" store re-design plans
- Bangladesh workers call for union registration
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective