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Walmex to invest in stores, logistics in 2018

Wal-Mart de México SAB de CV said March 6 that it will invest heavily in its existing stores, new stores and logistics in 2018.

The Mexican unit of U.S. supermarket giant Walmart Inc. expects to spend 20.9 billion pesos this year, up 20% from 2017.

The company said it will allocate 30% of its investment spending in remodels and maintenance of its existing stores, while 29% will be spent on building new stores. In February, Walmex opened 13 new outlets in Mexico and Central America, with another one set to open in Mexico this month.

Logistics spending will account for 28% of Walmex's 2018 investment budget as the company seeks to improve its logistics service.

Meanwhile, the retailer will continue investing in its omnichannel strategies, with 10% of investment spending to go to e-commerce and technology. In December 2017, the company was reported to be planning on installing Wi-Fi in its stores to promote e-commerce.

Walmex will spend the remaining 3% of its investment on improving its infrastructure for perishables, according to the release.

As of March 6, US$1 was equivalent to about 18.76 Mexican pesos.