Walmart plans $1.5 bn investment in Mexico and Central America

Walmex, Walmart’s unit in Mexico and Central America, plans to boost spending in the region by 27 percent to around 27 billion pesos ($1.49 billion) in 2023.
Walmex Beatriz Nunez
Just under half of the investment will go to remodeling and maintenance on existing stores, while nearly 30 percent will be used for new stores and clubs, Walmex said in a filing following an event with investors and analysts.

The investments are up from the 21.3 billion pesos Walmex spent in 2022. However, last year’s capital expenditures came in under estimates as some projects were deferred due to supply chain disruptions, the company said last month.

Some 12 percent of investments in 2023 will go to expand and modernize the company’s supply chain, Walmex said.

Walmex also said it had received approval Monday from Mexican authorities to purchase a Mexican electronic payments provider.

The company would launch a new health membership product, making use of the almost 1,500 pharmacies and 500 doctor’s offices across stores in the region.

“For $30 pesos, our customers can have access to unlimited remote medical service 24/7, nutrition services, ambulance in case of emergency, discounts on specialists and… a 5 percent discount at our pharmacies and get consultation at our doctor’s offices,” Walmex growth lead Beatriz Nunez said.

Nunez added that last year, the company delivered health solutions to over 1 million patients, excluding pharmacy customers.

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