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Walmart de México to increase investment 7 percent

Tuesday, February 25, 2014

Walmart de Mexico said it will increase its business investment 7 percent this year but shift its focus to remodeling existing stores rather than opening new stores.

Walmart de Mexico, which has slowed store openings amid a U.S. Department of Justice bribery investigation, will spend $1.1 billion in 2014 but it will only increase its floor space by 5.2 percent, Chief Financial Officer Rafael Matute said.

Last year, the company opened 235 stores in Mexico and Central America, increasing its floor space by 7.1 percent.

Source: Reuters