Wal-Mart de Mexico, S.A.B. de C.V. (BMV: WALMEX) informs its shareholders and the investing public at large that its 2012 expansion program will be delayed, and that it currently contemplates completing it 60 to 90 days later than originally announced.
As a result of the process changes described below, the revised expansion program contemplates the addition of 469 thousand square meters to the sales floor with the opening of between 325 to 335 units for the period of January to December 2012. The growth of installed capacity in the region will be 8.1%, with an increase of 8% for Mexico and 9% for Central America. Total investment for the year 2012 will be approximately $17.5 billion pesos.
The revision to the expansion program is primarily due to the additional steps the company is adding to its real estate process that extends the average time required to open a store. These steps include reinforcing documentation that supports real estate projects and enhancing processes with our business partners. Another factor that explains the change is that stores rescheduled for the latter part of Decemer are now being moved into January of 2013 due to operational considerations of the Christmas season.
Wal-mart de Mexico, S.A.B. de C.V. believes that these enhancements will strengthen its overall growth development process. The company maintains its optimistic view for growth opportunities and will continue to invest in the region.
Throughout the year we have inaugurated 87 units:
This document may contain certain references concerning Wal-Mart de Mexico S.A.B. de C.V.'s future performance that should be considered as good faith estimates made by the Company. These references are a reflection of Managements' expectations about the Company and are based upon currently available data. Actual results are always subject to future events, risks and uncertainties, which could materially impact the Company's actual performance.