Retail giant Walmart is expanding its investment in Central America, with plans to invest $700 million in Guatemala over the next five years.
This announcement follows closely on the heels of Walmart’s commitment to invest $600 million in Costa Rica.
The news was delivered by Cristina Ronski, head of Walmart’s Central American operations (Walmex), during the groundbreaking ceremony for a new store in Guatemala.
This substantial investment underscores Walmart’s ongoing dedication to growth in the region, coinciding with positive sales figures for Walmex in Central America.
Notably, Guatemala, Nicaragua, and Honduras all experienced double-digit same-store sales growth in the first quarter of 2024, indicative of robust customer demand.
Although Costa Rica saw comparatively lower growth during the same period, the favorable performance across the region bodes well for Walmart’s expansion endeavors.
While the specific allocation of the $700 million has not been disclosed, it is anticipated that a portion will be earmarked for new store construction and renovations, given the timing of the groundbreaking ceremony.
Investments in supply chain infrastructure and logistics enhancements are also likely, as they play a crucial role in supporting sales growth.
Walmart’s significant investment underscores its confidence in the Central American market and its commitment to capitalizing on the region’s economic potential and expanding consumer base.
With a strategic focus on strengthening its presence and operations in Guatemala, Walmart aims to reinforce its position as a premier retailer in the region.
