Wal-Mart Stores opens 10,000th store worldwide near Cuernavaca, Mexico, as part of its 2011 19B-pesos Mexican store expansion, which aims to open a total of 365 new stores in Mexico this year
November 23, 2011
– Wal-Mart Stores, Inc. has opened its 10,000th store worldwide—a Sam’s Club membership store—near the town of Cuernavaca, the capital of the Mexican state of Morelos, MarketWatch reported on Nov 22.
According to a company spokesperson, Wal-Mart also opened its first non-U.S. store in Mexico 20 years ago, in Mexico City.
As the end of 2011 is approaching, Wal-Mart has accelerated its 2011 Mexican store expansion, which features a 19 billion pesos (US$1.4 billion) investment plan. Wal-Mart intends to open 365 new stores and, as of early this month, had managed to open 239 new stores.
According to a company spokesperson, the expansion plan is still on schedule, and floor space is expected to increase by more than 11%.
As of the end of October, Wal-Mart’s Mexican arm, Wal-Mart de Mexico SAB, or Walmex, had 590 stores in Central America in addition to 1,964 restaurants and stores in Mexico.
The primary source of this article is MarketWatch, New York, New York, on Nov. 22, 2011.