Tags: Wal-Mart Latin America

Wal-Mart Looks to Expand to Latin America

Wednesday, 24 Feb 2010 09:56 AM


Wal-Mart Stores Inc., the world’s largest retailer, plans to make acquisitions and open new outlets in Latin America, said Eduardo Solorzano, president and chief executive officer of the region.

“I don’t believe there is a name that we would withhold or withdraw from the list of prospects,” Solorzano, 52, said in an interview yesterday in Miami. “I believe that we are going to do an acquisition” if it makes sense economically, he said, without disclosing potential targets.

Wal-Mart is seeking growth in fast-growing markets such as Brazil, China and India as its U.S. sales have stalled. The retailer said last week that domestic sales would be “more challenging” in the first quarter after reporting fourth- quarter revenue that trailed its projections. International sales account for a quarter of the company’s revenue.

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Wednesday, 24 Feb 2010 09:56 AM
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