Home / Knowledge / News / Walmart invests $54 mn to open 14 stores
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

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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:
May 2017

May 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