Walmex Taking Advantage Of Undeveloped Mexican Market, But Valuation Constrained By Economic Outlook

The CEO of Mexico's largest retailer, Wal-Mart de Mexico (Walmex), has revealed that the firm plans to open outlets in 300 Mexican cities where it currently has no presence. Walmex says it currently operates in 360 cities and, although it has not given a timescale for the planned expansion, the move highlights the wealth of opportunities available to the Latin American retailer. These opportunities are reflected in the firm's valuation, which is well ahead of its developed market peers despite a slowdown in its pace of growth in line with a severe slump in the Mexican economy (see

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