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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Wal-Mart de México, S.A.B. de C.V.    WALMEX *   MX01WA000038

WAL-MART DE MÉXICO, S.A.B. DE C.V.

(WALMEX *)
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Retailer Wal-Mart de Mexico to invest $1.3 billion in Mexico

12/07/2016 | 06:51pm EST
A person walks outside a Wal-Mart store in Mexico City

MEXICO CITY/ CHICAGO (Reuters) - Retailer Wal-Mart de Mexico (>> Wal-mart de Mexico S A B de C V) said on Wednesday it will invest $1.3 billion in logistics in Latin America's No. 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump.

MEXICO CITY/ CHICAGO (Reuters) - Retailer Wal-Mart de Mexico (>> Wal-mart de Mexico S A B de C V) said on Wednesday it will invest $1.3 billion in logistics in Latin America's No. 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump.

The investment in Mexico will not result in any jobs being moved from the United States, Wal-Mart spokeswoman Jo Warner told Reuters.

"The investment is funded by Walmex and is necessary for expansion of Wal-Mart's Mexican business," she said.

Warner did not comment on whether Wal-Mart had heard from Trump after it made the announcement in Mexico. She said the investment is not the same as companies moving jobs to Mexico.

Recently, United Technologies Corp's (>> United Technologies Corporation) Carrier unit decided to keep half of the 2,100 Indiana jobs it was to shift to Mexico after the U.S. president-elect worked out an agreement with the company's CEO, Gregory Hayes.

The election has thrown Mexico's business world into uncertainty, as Trump has attacked U.S. companies investing south of the border and threatened to renegotiate or scrap a major trade agreement with Mexico.

A large part of Wal-Mart's investment will be over the next three years, including in back-end infrastructure, said the company's chief executive, Guilherme Loureiro. He said it would create some 10,000 permanent new jobs.

"It will involve the building of new distribution centers, as well as the expansion of ones we already have," he said at an event with President Enrique Pena Nieto at the president's office.

Loureiro said the company had already invested 80 billion pesos ($3.93 billion) in the past four years.

Wal-Mart has been looking to double sales in Mexico by 2024 by boosting its core business of running discount retail and membership stores, and expanding its fresh food business.

In August it sold its Suburbia clothing chain to El Puerto De Liverpool (>> El Puerto de Liverpool SAB de CV) for about $852 million in order to streamline operations in the country.

At Wal-Mart's shareholder meeting in June, David Cheesewright, head of the overseas division, singled out the Mexican market as a top priority. Mexico has Wal-Mart's largest number of stores outside the United States.

Wal-Mart has struggled in overseas markets, including Britain and China, but Walmex has remained a bright spot with third-quarter revenue growing 10.8 percent to 126.86 billion pesos ($6.25 billion).

($1 = 20.3110 Mexican pesos)

(Reporting by Mexico City Newsroom and Nandita Bose in Chicago; Editing by Nick Zieminski and Matthew Lewis)

By Joanna Zuckerman Bernstein and Nandita Bose


© Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
EL PUERTO DE LIVERPOOL, S.A.B. DE C.V. -1.88% 65.15 End-of-day quote.-30.63%
LINE CORPORATION -0.19% 5370 End-of-day quote.0.37%
RAYTHEON TECHNOLOGIES CORPORATION -0.74% 73.81 Delayed Quote.-50.71%
SHIFT, INC. -4.15% 14770 End-of-day quote.85.09%
WAL-MART DE MÉXICO, S.A.B. DE C.V. -2.21% 53.09 End-of-day quote.-1.96%
WALMART INC. 0.31% 151.83 Delayed Quote.27.76%
WORLD CO., LTD. 0.53% 1337 End-of-day quote.-50.32%
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Financials
Sales 2020 705 B 35 331 M 35 331 M
Net income 2020 35 797 M 1 793 M 1 793 M
Net Debt 2020 20 733 M 1 038 M 1 038 M
P/E ratio 2020 27,0x
Yield 2020 3,41%
Capitalization 927 B 46 294 M 46 442 M
EV / Sales 2020 1,34x
EV / Sales 2021 1,27x
Nbr of Employees 229 428
Free-Float 29,5%
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Technical analysis trends WAL-MART DE MÉXICO, S.A.B. DE C.V.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 61,38 MXN
Last Close Price 53,09 MXN
Spread / Highest target 31,9%
Spread / Average Target 15,6%
Spread / Lowest Target -7,70%
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Managers
NameTitle
Guilherme Loureiro President, Chief Executive Officer & Director
Enrique Ostalé Cambiaso Executive Chairman
Milton Brandt Chief Financial Officer
Alonso Yanez Chief Information Officer
Blanca Avelina Treviño de Vega Independent Director
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