Wal-Mart plans to open new stores in nine Central and South American countries this year, reports the Latin Business Chronicle.
Experts say the global recession is helping Wal-Mart make new inroads because its low prices are attractive to consumers when budgets are tight.
While other companies are reporting low growth or no growth, Wal-Mart’s earnings topped $13 billion in 2008 — up 5. 2 percent over the previous year, with “strong performance” in Brazil and Mexico.
This is prompting Wal-Mart to invest more of its dollars south of the border — with additional stores in Argentina, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Chile and Puerto Rico.
“Wal-Mart’s next conquest: Latin America”
Latin Business Chronicle, March 27, 2009