Advertisement
Canada markets closed

  • S&P/TSX

    21,969.24
    +83.84 (+0.38%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CAD/USD

    0.7316
    -0.0007 (-0.10%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • Bitcoin CAD

    87,092.20
    +1,184.77 (+1.38%)
     

  • CMC Crypto 200

    1,392.34
    -4.20 (-0.30%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,927.90
    +316.10 (+2.02%)
     

  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.26 (+0.81%)
     

  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     

Retailer Walmex to invest around $2 billion in 2024

Reuters
·1 min read
FILE PHOTO: Logo of Walmart is pictured outside a store in Mexico City

MEXICO CITY (Reuters) - Mexican retailer Walmex is set to invest around 34.5 billion pesos ($2.05 billion) in 2024, up 19% from previous year, according to a filing published on Tuesday.

Some 45% of the investment will be used for remodeling and maintenance work of its existing stores, with another 29% set for new openings and expansions.

The company's supply chain will benefit from 15% of the investment, while the remaining 11% will be destined to boost e-commerce and the implementation of new technologies.

The chief executive of the Mexican retailer Guilherme Loureiro said last month that the company was in a position to continue to grow its footprint in Latin America's No. 2 economy, after 2023 marked its fastest year for adding new stores in a decade.

(Reporting by Valentine Hilaire; Editing by Sarah Morland)