Walmart Plans 27B Pesos Investment For Mexico And Central America In 2023

Walmart Inc WMT said its Mexico and Central America unit, Walmex plans to spend 27 billion pesos in 2023. The spending amounts to a 27% increase from last year.
Under 45% of the investment will be used for remodeling and maintenance of the existing stores.
About 29% will be used to build new stores and clubs to expand the reach and bring value propositions to new customers.
In 2023, new stores are expected to contribute between 1.2% - 1.4% of sales growth.
Also Read: Walmart CEO Likely To Stay In The Role For At least Three Years
About 12% of the investment will be used to expand and modernize the company’s supply chain to increase growth capacity.
About 14% of the spending will happen toward strategic omnichannel and technology projects.
Walmex has received approval from Mexican authorities to acquire a Mexican fintech company. The company expects to close the transaction within the next couple of weeks.
Price Action: WMT shares closed lower by 1.00% at $139.25 on Tuesday.
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