Wal-Mart de Mexico to Invest MXN27.1 Billion in 2023

By Anthony Harrup

MEXICO CITY--Retailer Wal-Mart de Mexico SAB said Tuesday it plans to invest about 27.1 billion Mexican pesos ($1.5 billion) this year, 27% more than in 2022.

Walmex, a unit of Arkansas-based Walmart Inc., said in a release that 45% of the capital expenditure would be in remodeling and maintaining existing stores, 29% in new stores and the rest in supply chains and technology, including ecommerce and digital platforms.

New stores are expected to contribute between 1.2% and 1.4% to total sales growth, the company said.

Walmex, Mexico's largest retailer by sales, opened 126 stores last year, bringing its total to 3,745, of which 2,863 are in Mexico and the rest in Central America.

Write to Anthony Harrup at [e-mail]

(END) Dow Jones Newswires

03-07-23 1824ET