MEXICO: Walmex to open 252 new stores
Wal-Mart de Mexico plans to spend MXN11.8bn (US$805m) on opening 252 new stores as the company expands into new cities in the country.
Despite Mexico's slowing economy, chief executive Eduardo Solorzano said Walmex will increase investment by 4% over the next year, creating 14,500 jobs in the process.
It will also slash prices on 1,700 items to draw more customers in.
That strategy helped it post an 11% increase in sales and a 5% gain in net profit last year as the economic downturn fuelled demand for its discount goods
"Last year we opened 182 stores and we have a presence in 224 cities. Even so, there are 147 cities in which we don't have a presence," Solorzano said yesterday (19 February) during a conference call with analysts.
Solorzano said that low prices and strict financing would permit the company to keep expanding.
"We've always been aggressive in the commercial part and more conservative on the financial one and that's how we will continue to manage the company.''
Help test our new apparel sourcing tool.
There was little sign of any uptick in retail spending in July, as retailers released yet another disappointing month of same-store sales results....
From credit problems at CIT, to falling pay and rising opposition to the political situation in Honduras, textile and apparel suppliers last month faced up to a number of significant sourcing issues. ...
Wal-Mart has today (13 August) posted better-than-expected second-quarter earnings, which came in at the high end of its guidance range....
Iconix Brand Group Inc, owner of brands such as Candie's, Joe Boxer, Rampage and Mossimo, has posted a 32% jump in second quarter profit on higher sales, and lifted its revenue guidance for the year....
Children's wear specialist Carter's posted a second quarter profit of US$11.3m, boosted by improved sales for its eponymous Carter's brand....
Disney is launching new tween fashion lines inspired by its Jonas and Wizards of Waverly Place shows, which will be hitting retailers including JC Penney, Kmart, Sears, Walmart, Target and DisneyStore...
Sporting goods retailer Hibbett Sports has announced that Rebecca Jones will join the company as vice president of merchandising in August 2009....
Around 1.4m pairs of children's clogs have been recalled in the US by footwear distributor Brown Shoe and its Hong Kong-based affiliate Pagoda International....
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Wage abuses can’t be eliminated by software and PR
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- JC Penney to close 140 stores amid lower sales
- Inditex and H&M boycott Dhaka Apparel Summit
- Bangladesh government steps in on labour crackdown
- Adidas unveils "revolutionary" marathon shoe
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022