Wal-Mart de Mexico To Open 252 New Stores This Year

Wal-Mart’s Mexican invasion just sped up today with the company’s announcement that it will invest $805 million in the country, and open 252 new stores in 2009. The number is remarkable, given that Mexico is less significantly smaller than the U.S. where Wal-Mart is planning to open less than 150 new stores this year.

This aggressive growth also comes at a time of particular weakness for one of Wal-Mart’s main domestic Mexican competitors: the troubled Comercial, which last December was on the verge of bankruptcy. Wal-Mart has also challenged Mexico’s major commercial banks by offering its own store-brand credit card and other in-store financial services. Wal-Mart pledges to be “aggressive” in their Mexican moves, yet we’ve seen how this “aggressiveness” is connected to Wal-Mart’s poor treatment of its U.S. employees. One can only hope the Mexican government has the best interest of its people and workers at heart and makes sure Wal-Mart treats both its consumers and employees with the dignity they deserve.

Walmex to invest $805 million, open 252 stores [Business Week]

Wal-Mart de Mexico SA said Thursday it will invest 11.8 billion pesos ($805 million) and open 252 new stores in 2009 despite the slowing Mexican economy.

The investment represents a 4 percent increase compared to last year and will create 14,500 new direct jobs, said Walmex Chief Executive Officer Eduardo Solorzano.

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