News Flash

Wal-Mart plans to invest $1bn on store expansion

21 Aug '08

2 min read

During a meeting held in Brasilia with president Luiz Inácio Lula da Silva, Wal-Mart Brazil's President and CEO, Héctor Núñez, announced the company's expansion plan for 2009.

The retailer will make its largest investment yet in the country since it started operating in Brazil fourteen years ago. Wal-Mart Brazil plans to invest between R$ 1.6 and R$ 1.8 billion and open around 80 to 90 new stores of all the nine brands and different formats it operates in the country today.

In the company of Wal-Mart's President and CEO for the Americas, Craig Herkert, and the Vice Chairman and International President and CEO, Michael Duke, Núnez announced that the company would create over 9 thousand jobs in 2009 with the opening of the new stores.

Wal-Mart Brazil operates today in the Northeast, Central West, South and Southeast regions of Brazil with nine different brands. They are as follows: hypermarkests BIG, Wal-Mart and Hiper Bompreço, the supermarkets Nacional, Mercadorama, Bompreço and Todo Dia (soft discount) and the wholesalers Maxxi (cash and carry) and Sam's Club.

During the last four years the company invested over R$ 3 billion in Brazil. In 2008 alone, R$ 1.2 billion is being invested to build 36 new stores and generate over 7 thousand new job posts and 27 thousand indirect positions. "Wal-Mart believes in Brazil and is confirming this investing more and more in this country," says Núnez. "We are investing not only in new stores, but also expanding our support to regional suppliers, exporting more Brazilian products, generating more jobs and working with projects to preserve the Environment".

Wal-Mart Brazil is a retail company that started operating in Brazil in 1995. The company has 318 stores and is present in 17 states, plus the Federal District. The company has over 70 thousand employees.

Wal-Mart

More Wal-Mart News... More Textiles News - Brazil...