Walmex to open stores in 300 more cities in Mexico and Central America

Wal-Mart de Mexico, Latin America’s largest retailer, plans to open stores in 300 more cities in Mexico and Central America as Mexico’s economy recovers.

Walmex, as the company is known, has pledged to invest a record $984 million this year. In February, the retailer added stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica by acquiring them from US parent company Wal-Mart Stores.

Walmex’s new Central America operations are going “better than expected,” said Gaspar Quijano, an analyst at Vector Casa de Bolsa in Mexico City.