Wal-Mart to Open Stores in Mexico

THE JOURNAL RECORD, July 11, 1991 | Go to article overview

Wal-Mart to Open Stores in Mexico


LITTLE ROCK, Ark. (AP) _ Wal-Mart Stores Inc., the largest retailer in the United States, is expanding into Mexico in a joint venture with that country's biggest retailing company.

Wal-Mart spokesman Don Shinkle said Wednesday the venture with CIFRA SA will open the first discount warehouse store in Mexico City by the end of this year.

"It's an untapped market, a very, very large untapped market," he said.

Shinkle said he did not know how many stores Wal-Mart would open in Mexico City or if the venture would lead to Mexican markets outside the capital.

"With the announcement of our entry into Mexico City, it certainly would pave the way for Wal-Mart Stores into Mexico, but there's nothing to announce at this time," he said.

Wal-Mart brings plenty of experience in warehouse stores to the venture. The company operates 181 Sam's Clubs in the United States.

The joint venture with CIFRA would develop trade between the United States and Mexico, Wal-Mart said in a statement Tuesday. However, the company did not say what Mexican products might be sold in its U.S. stores.

"We believe this is an excellent opportunity to work with a quality group of people and enter new markets," said David Glass, Wal-Mart's president and chief executive officer.

CIFRA operates 192 stores in central Mexico. …

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