by Talk Business & Politics staff (staff2@talkbusiness.net)
Walmart has announced plans to expand its business in Mexico over the next five years with a $6 billion investment to add 1,500 new stores. This will add to the 3,200 stores Walmex now operates in Mexico.
Walmex includes stores in Central America, but the investment will focus on operations in Mexico. Walmex Chief Executive Officer Ignacio Caride said the investment would create 5,500 direct jobs.
The majority of the new stores will be branded Bodega Aurrera. The low-cost grocery format is one of the four retail brands Walmart operates in Mexico, with the others being Sam’s Club, Walmart Supercenter and Walmart Express.
