Walmart to Invest $316 Million in to Refurbish Brazilian Stores
Walmart Stores has revealed plans to invest 1 billion reais—roughly $316 million dollars—in Brazil to refurbish 120 stores—as the country looks to recover from a serious recession.“We’ve already done about 10 percent of it this year,” Flavio Cotini, Chief Executive Officer of Walmart’s Brazilian unit told news source Reuters at the Latam Retail Show in Sao Paulo this week.The investment appears to indicate a renewed focus in the Latin America’s biggest economy—where last year the company closed 60 locations.Reuters noted that rivals like Grupo Carrefour Brasil SA and GPA SA control a large por
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