Walmex to invest around $2 billion: According to a filing issued on Tuesday, Mexican retailer Walmex plans to invest around $2.05 billion, or 34.5 billion pesos, in 2024, an increase of 19% over the previous year.

Existing shop renovations and upkeep will account for about 45% of the investment, while new store openings and expansions will account for about 29%.

Fifteen percent of the funding will go toward improving the company’s supply chain, while eleven percent will go toward expanding the business’s online presence and introducing innovative technology.

Following 2023’s fastest year for opening new stores in a decade, Guilherme Loureiro, chief executive of the Mexican retailer, stated this month that the firm was well-positioned to continue expanding its presence in Latin America’s No. 2 economy.