Walmart to invest nearly $1.5 billion in Mexico and Central America in 2023 By Reuters

© Reuters. FILE PHOTO: Men walk past the Walmart logo outside a store in Monterrey, Mexico February 12, 2018. REUTERS/Daniel Becerril/File Photo

MEXICO CITY (Reuters) – Walmart’s Mexico and Central America unit, known as Walmex, plans to increase spending in the region 27% from a year ago to total about $27 billion. pesos ($1.49 billion) in 2023, he announced on Tuesday.

Just under half of the investment will go to refurbishing and maintaining existing stores, while nearly 30% will be used for new stores and clubs, Walmex said in a filing following a event with investors and analysts.

Planned investments are up from the 21.3 billion pesos that Walmex spent in 2022. However, last year’s capital expenditure was lower than estimated as some projects were postponed due to disruptions in the supply chain, the company announced last month.

Some 12% of investments in 2023 will go to “expanding and modernizing the company’s supply chain”, Walmex said.

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

The company also said at the event that it will launch a new health membership product, using nearly 1,500 pharmacies and 500 doctor’s offices in stores across the region.

“For 30 pesos, our customers can access unlimited 24/7 remote medical service, nutrition services, emergency ambulance, specialist discounts and… 5% in our pharmacies and get a consultation in our medical offices,” said Beatriz Nunez, Head of Growth.

Nunez added that last year the company provided healthcare solutions to more than one million patients, excluding pharmacy customers.

“In 2023, we want to develop Healthcare as a strong vertical, it’s still at a very early stage, but we know how relevant it is for our customers,” she added.

($1 = 18.1026 Mexican pesos)

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