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Walmart invests $54 mn to open 14 stores
27
May '11
Walmart Store Inc., the world's largest retail store, through its subsidiary in Mexico and Central America, recently announced its plans to invest US$54 million in Nicaragua this year, its most aggressive expansion plan in the country so far.

The investment will involve the opening of 14 stores in different parts of the country, including León and Rivas, generating a total of 420 direct jobs and a similar number of indirect jobs, which will totalize 73 stores and 2,757 jobs in Nicaragua.

“As we continue to develop infrastructure, we will also see a growth in sales. Additionally, Walmart will have a 24 percent growth in number of stores by the end of 2011”, commented Gabriela Gutierrez, Vice President of Real Estate Development for Walmart Central America.

The company, which operates in Nicaragua through its supermarkets La Unión and Palí, will be adding a new store format, similar to warehouses, with new lines of general merchandise and perishable products and where discounts will be offered on more than 2,000 products, mainly in the food category.

According to statistics from Nicaragua's Ministry of Development, Industry and Trade (MIFIC, for its acronym in Spanish), foreign direct investment (FDI) from Mexico totalized US$570 million during the last six years. Additionally, during this same period, Mexico has been among the top three sources of FDI in Nicaragua, becoming a strategic economic partner for the country.

Walmart Central America is the leading retail operator in the region, with over 528 shops and over 30 thousand employees in Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica.

Walmart Store Inc

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