Home / Knowledge / News / Wal-Mart plans to invest $1bn on store expansion
Wal-Mart plans to invest $1bn on store expansion
21
Aug '08
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


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search