Walmart plans to open more than 1,000 stores in Mexico and Central America

With a goal of doubling sales, Walmart Mexico plans to open as many as 1,200 new stores in Mexico and Central America as it strives to increase 30% to 40% its number of stores over the next 10 years, said Guilherme Loureiro, CEO and general manager company.

“Our strategy is to double the business over the next 10 years, half the growth needed to double the business is with new stores. Then we should increase new stores by 30% or 40% over the next 10 years, minimum,” said Loureiro.

After the press conference in which a joint agreement between Walmart and the Ministry of Social Development (SEDESOL) was announced to support low-income communities, the manager said he will work to open more and more units, also focusing on small formats .

At the end of March, the company had 3,056 units, 2,354 in Mexico and 702 in Central America. Of the stores it has in the country, 1,716 units correspond to Bodegas Aurrera format.

Guilherme Loureiro, chief executive officer of Wal-Mart de Mexico SAB, speaks during an event at a Bodega Aurrera store. (PHOTO: Susana Gonzalez/Bloomberg)

Moreover, at a press conference in Bodega Aurrera “El Molinito” in Naucalpan, State of Mexico, Loureiro said Walmart is also analyzing its ability to help clients with paperwork for life insurance.

As part of the agreement with SEDESOL, it could be extended to more than 500 communities across the country where it has retail presence in the form of Mi Bodega.

Similarly, he noted that the plan includes working with small and medium enterprises (SMEs) and suppliers, in order that products arrive fresh and cheaply.

Walmart has 6 distribution centers in the State of Mexico and more than 400 stores with at least 35 thousand employees.

Source: forbes.com.mx