Retail giant Walmart is pouring further resources into Central America, announcing a $700m investment plan for Guatemala over the next five years, Reuters reported.
The news comes just days after the company revealed a similar commitment of $600m to Costa Rica.
According to Reuters, Cristina Ronski, head of Walmart's Central American operations (Walmex), made the announcement during the ground-breaking ceremony for a new store in Guatemala.
This investment signals Walmart's continued focus on growth within the region.
The move also comes amidst positive sales figures for Walmex in Central America.
Guatemala, Nicaragua, and Honduras all reported double-digit same-store sales growth in 2024's first quarter, demonstrating strong customer demand.
While Costa Rica saw lower growth in the same period, the overall positive performance across the region suggests a promising market for Walmart's expansion plans.
The specific details of how the $700m will be allocated have not been disclosed yet.
However, considering the ground-breaking ceremony's timing, it is likely that a portion will be directed towards new store construction and renovations.
Investments in supply chain infrastructure and logistics improvements are also potential areas of focus, given their role in supporting sales growth.
This significant investment by Walmart highlights the company's confidence in the Central American market.
It is a strategic move that aims to capitalise on the region's economic potential and growing consumer base.
With a focus on bolstering its presence and operations in Guatemala, Walmart is well-positioned to further solidify its position as a leading retailer in the region.
https://finance.yahoo.com/news/walmart-announces-700m-investment-guatemala-124952870.html
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