Walmart: weak Mexico, strong region
Walmart is weak in Mexico, but strong in Central America, where sales last year went up 14 percent in pesos and 9 percent in dollars.
Meanwhile, Walmart’s year-over-year sales in Mexico were flat in pesos and negative in dollars.
Walmart Central America (only in Spanish) is a division of Walmex, which in 2010 bought the biggest supermaket chains in Central America for $110 million in cash, plus Walmex shares.
The main sellers were the Uribe family of Costa Rica, who owned United Supermarkets Corporation, and the Paiz family of Guatemala, owner of the La Fragua chain.
Parent company Walmart Stores Inc., based in the United States owns just over two thirds of Walmex, the rest of the stock is widely held.
With the acquisition, Mexico-City-based Walmex, added over 500 stores stores and 11 distribution centers in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.
Walmart has no Panamanian operations.